Morrisons Warns of ‘Trade-Broad’ Worth Hike to Handle Truck Driver Scarcity

Morrisons warned it might be compelled to boost costs attributable to a widespread scarcity of truck drivers, because it revealed half-year earnings fell 43%.

The grocery store big mentioned industry-wide worth hikes and a few product shortages might be anticipated within the coming months as a result of scarcity of drivers, rising international costs for meals merchandise. base and better transportation prices.

The bosses mentioned they might attempt to cut back the affect of price pressures and provide points to maintain its cabinets stocked.

“We anticipate some retail worth inflation throughout the {industry} within the second half of the yr, attributable to latest sustained will increase in commodity costs and freight inflation, in addition to the present scarcity of truck drivers, ”the corporate mentioned.

“We are going to search to mitigate these and different potential price will increase, similar to these incurred to keep up good in-store availability. “

ITV Information editor-in-chief Joel Hills stories on issues within the transportation {industry}

Supermarkets, retailers, farms, meals producers and logistics firms have warned that provide chains are at breaking level attributable to an acute scarcity of truck drivers for months.

Transport secretary Grant shapps is about to announce plans to hurry up driver coaching to keep away from provide outages as Christmas approaches.

Trade specialists have warned that the issues might final till winter, with one provider fearing the Christmas dinner favorites might run out as shortages of drivers and normal workers proceed.

Morrisons President Andrew Higginson mentioned, “Throughout the corporate, the complete Morrisons staff has demonstrated commendable resilience within the face of quite a lot of ongoing challenges throughout the first half of the yr, together with the continued pandemic, the disruptions at a few of our provider companions and the affect on our provide chain. shortages of truck drivers.

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