📈 Greedflation in Grocery Sector
The UK Competition and Markets Authority reports 'greedflation', where big brands hike prices more than their cost increases, fuelling inflation.
🥫 Overpricing by Big Brands
About 75% of major brands in categories like baby food and pet food have increased their unit profitability, leading to higher food prices.
🍼 Focus on Baby Milk
Baby milk prices have risen by 25% in two years, with limited cheaper alternatives available for consumers.
💰 Impact on Household Budgets
High food prices are straining household budgets, but store own-label products often offer more affordable alternatives.
📉 Current Inflation Levels
Despite a slight decrease, food price inflation in the UK remains historically high, at 10.1% in October 2023.