ALDI has warned of higher prices for customers as it announced plans to open 80 new stores in a £1.6billion expansion plan
Boss of the German discount giant, Giles Hurley told the BBC, hikes to National Insurance rise and the cost of new packaging rules had already “rippled through to prices on the shelf edge”.
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“Any policies which affect the operating costs of business should be considered very, very carefully because of the very real risk they find their way… back into the food system and onto prices, he added.
It comes after more than 60 retailers wrote to the Chancellor last month asking her to avoid tax raids over fears it could lead to price hikes at the till.
Aldi, which is the UK’s cheapest supermarket, said it has already pumped £300million into trying to keep prices as low as possible for shoppers.
The warning came as the group said its total sales increased to £18.1 billion in the UK and Ireland over 2024, up from £17.9 billion the prior year, after opening a swathe of new stores during the year.
Operating profits fell to £435.5million from £552.9million the year earlier, which Aldi partly attributed to its spending on lowering prices for customers and raising pay for staff.
Giles added that shoppers were “still finding things difficult” which is why it was “laser focused” on keeping its prices low.
The group will open 80 new stores over the next two years as part of a £1.6billion investment.
