Sainsbury’s boss warns UK living costs squeeze will ‘only intensify’

UK's second-biggest supermarket says it will invest 500m to keep prices low as Marks & Spencer echoes outlook for coming months

The inflationary pressure on households will only intensify" through the rest of this year, the boss of Sainsbury's has warned as he said the supermarket would invest 500m in attempting to keep prices low.

The dour sentiment was echoed by the chair of Marks & Spencer, Archie Norman, who told shareholders at the retailer's annual general meeting on Tuesday that there was a coming winter in consumer demand".