The cost of a pint of milk has fallen from 95p to 90p at Tesco.
The impacts of higher prices are being felt in the Tesco boardroom as profits have fallen despite an increase in sales., have hurt the company's earning power.
But the retailer also announced a reduction in the price of milk for the first time since May 2020. The cost has dropped from 95p to 90p a pint and from £1.30 to £1.25 for two pints.It reported profits of £2.63bn, down from £2.82bn the year before despite revenues rising to £65.7bn over the year, an increase from £61.3bn a year ago."It's been an incredibly tough year for many of our customers", chief executive Ken Murphy said.
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