// The UK’s biggest supermarkets face calls for profiteering probe
// Liberal Democrat leader Ed Davey has accused supermarkets of profiteering from record high food inflation
The UK’s competition watchdog is facing calls to investigate claims of profiteering among Britain’s largest supermarkets after food inflation soared to a record high in April.
Liberal Democrat leader, Ed Davey, has requested the Competition and Markets Authority (CMA) to investigate whether supermarkets could be using its market power to inflate and raise food prices even further.
“We need to bring soaring food prices back under control and offer relief to families,” he told The Guardian.
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“That means cracking down on profiteering by food multinationals and the big supermarkets so customers get a fair deal.”
The latest figures from the British Retail Consortium show food inflation increased to 15.7% in April, up from 15% in March, and is the highest inflation rate in the food category on record.
Similarly, fresh food inflation also rose to a record high 17.8% last month, up from 17% the month before.
BRC chief executive Helen Dickinson said: “We should start to see food prices come down in the coming months as the cut to wholesale prices and other cost pressures filter through.
“In the meantime, retailers remain committed to helping their customers and keeping prices as low as possible.”
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2 Comments. Leave new
Did you just “ smell the coffee “ they have all been doing this your entire life Duhhh !
necessities have not gone up by 19% more like 75%+ ie. eggs from £1.08 to £2.00+ thats just eggs milk from £1.60 for 6 pts. to £2.80 .every supermarket “CLAIMS” to price match ALDI no such thing they are all the same price in the supermarkets