TESCO was roundly condemned today for adding to the-cost-of-living crisis by warning of a hike in food prices — despite making bumper profits.

John Allan, chairman of Britain’s biggest supermarket, said the “worst is still to come” after raising the company’s food prices by 1 per cent in the last quarter, with increases five times that possible by spring. 

He blamed skyrocketing energy bills and soaring inflation for the current situation.