Asda chairman Lord Stuart Rose has criticised the Bank of England and ministers for being too slow to react to the inflation crisis.
Rose also said politicians should intervene over high food prices, warning that they could remain elevated for “quite some time”.
“I think the government and the Bank of England have been slow to recognise inflation coming,” he said.
“We saw the signs last year that inflation was coming. I think the actions that have been taken to curb it have been a bit slow in coming.”
He also backed a return to workplaces, saying “people are more productive in the office”.
“They are going to go higher and they’re going to stay high for some time, I fear,” he said.
He said Asda will “do what we can” to reduce cost increases for customers.