Brits think supermarkets are profiteering – despite slowing food inflation
The majority of Brits think that supermarkets are profiteering from rising food prices caused by the Iran war despite the Chancellor John Healey recently admitting there was little evidence of the practice, new polling has revealed. Some 70 per cent of UK voters believe that supermarkets are making “excessive” profits from food inflation, according to [...]
A majority of UK voters believe that supermarkets are profiteering from the rising food prices caused by the Iran war, according to new polling. Despite Chancellor John Healey admitting there was little evidence of this practice, 70% of UK voters think supermarkets are making "excessive" profits from food inflation. Only 43% of the poll respondents agreed slightly with this idea, while 27% strongly believed that grocers are engaging in price gouging.
The Chancellor warned retailers against raising prices unnecessarily and expressed his readiness to crack down on any retailers taking advantage of the soaring energy and supply costs. Retailers, however, defended themselves, stating that they are working with the government and there is no significant evidence of price gouging.
When asked to estimate the profits made by supermarkets from each pound spent, voters estimated the figure at 32p, which is more than ten times the actual level of 3p.
Written by urgent.news from City AM's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
