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Sainsbury's Price Hike Due to Tax Changes

Sainsbury's to raise prices due to increased costs from tax changes and national living wage.

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English

United Kingdom

EconomyUkInflationFinanceBusinessRetail

Sainsbury'sArgosUk Government

Simon RobertsRachel Reeves

What were Sainsbury's recent financial results?: Despite the cost increases, Sainsbury's saw a 2.3 percent increase in group revenues to £17.2 billion for the 28 weeks to September 14th.
Which factors contributed to Sainsbury's rising costs?: The increased national insurance contributions and national living wage are the main drivers of Sainsbury's rising costs, impacting consumer prices.
What is Sainsbury's sales outlook for the festive season?: Sainsbury's expects strong sales during the festive season, driven by improved performance in Argos and growth in its grocery market share.
What is the primary reason for Sainsbury's price increase?: Sainsbury's will raise prices due to the unexpected £140 million cost increase from the recent Budget's tax changes.
What are Simon Roberts's calls to action for the government?: Simon Roberts, Sainsbury's CEO, urged the government to address business rates and listen to farmers' concerns about inheritance tax relief changes.

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