Profits at the UK's biggest supermarket were hit as customers put fewer items in their baskets amid rising costs.
Tesco has reported a jump in annual sales but profits halved as it grappled with higher costs.
As well as increases in the prices it pays suppliers, Tesco has also seen the cost of running the business - from higher energy bills to wages - climb. "That's where we've seen the rise of the discounters, which although much smaller, have forced the main players to up their game," she added.
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