Andrew Bailey Britain county Spencer county Norman BBC shock Party Andrew Bailey Britain county Spencer county Norman

M&S and ex-ASDA boss issues bleak warning to every shopper in Britain

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The chairman for M&S has issued a bleak warning. His message will affect everybody who buys food at Marks and Spencer in the UK.

Archie Norman, who has chaired M&S since 2017, admitted that food prices are set to soar by as much as 10% this year - a warning that comes a day after Andrew Bailey, Governor of the Bank of England, warned that households could witness an “apocalyptic” shock from rampant food inflation.

Mr Norman, who was previously the boss of Asda, said food prices would increase further during the rest of the year. “It’s very negative for consumer discretionary income but it’s perhaps not apocalyptic,” he told BBC Radio 4’s Today programme. READ MORE: ASDA shoppers call for staff to be fired over 'unethical' £1.75 Jubilee party item “It wouldn’t be surprising to see food price inflation over the course of the year running towards eight per cent to 10%.

But we don’t know that yet because it runs through the year – some has run through now but there is quite a lot still to come.” Analysts have predicted that overall inflation could rise sharply to 9.1% for April, when the latest official data is unveiled by the Office for National Statistics (ONS) on Wednesday.

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