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last week. tesco are doing so today. it has reported a 10% fall in underlying profits in its retail operations, said this was down to of things. as you said, that switch from branded products to cheaper own label ranges. customers putting fewer items in their baskets, people moving into frozen from fresh food, so volumes are down. and of course, tesco, like all the other supermarkets, are trying to absorb a lot of these huge cost price pressures that they are facing. tesco are also saying today that it is increasing pay for staff for the second time in a year. that is an extra 20p an hour, taking total pay up extra 20p an hour, taking total pay up around 8% for the year. it has also announced a price freeze today on more than 1000 products. the ceo of tesco warned about significant uncertainties ahead about how consumers are going to continue to

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