Tesco has prompted outrage after announcing a staggering ￡2.3 billion profit. Shoppers are calling on the supermarket giant to cut prices today, claiming that they have hiked the cost of everyday items while Britons struggle to put food on the table amid the cost of living crisis.

       The UK's largest supermarket group revealed this year's profit - measured up until February this year - was up almost 13 percent on the previous year.

       Overall revenues excluding VAT rose by 4.4 percent to ￡68.2bn for the year, according to Tesco, which put the bumper profit down to customers spending more after an easing of inflation.

       Shoppers have called the profit 'shameful' amid pleas to drop the price of goods, with one adding: "￡2.3billion pre tax- profit with a slogan of 'every little helps'.

       "Perhaps Tesco could have done a little more to cut prices, given the huge hike in their profits whilst many are seriously struggling to put food on the table."

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       The news comes after Tesco was among grocers to invest heavily into price improvements amid strong competition from German discount brands Aldi and Lidl.

       Chief Executive Ken Murphy said: "Customers are choosing to shop more at Tesco, which is reflected in growing market share as they respond to the improvements we've made to the value and quality of our products.

       "Inflationary pressures have lessened substantially; however, we are conscious that things are still difficult for many customers, so we have worked hard to reduce prices and have now been the cheapest full-line grocer for well over a year."

       Mr Murphy told reporters Tesco has never been more competitive on price and is consistently the cheapest, full-line grocer and has been for 16 consecutive months now.

       He hailed Tesco's "compelling" value proposition of Aldi Price Match, Low Everyday Prices and Clubcard Prices which he said continues to win with customers.

       Tesco's Chief Exec added: "We’ve worked tirelessly to keep prices low, and we’ve cut the prices of more than 4,000 products over the year, with an average saving of 12 percent.

       "Customers have responded to the investments we’ve been making, and we’ve seen increased market share, customer satisfaction growth ahead of the market and continued switching gains."