‘Global greedflation’: big firms ‘drive shopping bills to record highs’

Analysis by UK union shows large corporations have improved profits with price rises in cost of living crisis

Large corporations have fuelled inflation with price increases that go beyond rising raw materials and wages costs, pushing shopping bills to record highs, according to analysis of hundreds of company accounts.

Highlighting a trend dubbed “greedflation”, the research shows supermarkets, food manufacturers and shipping companies are among hundreds of major firms who have improved their profits and protected shareholder dividends, giving an extra lift to prices, while the cost of living crisis has meant workers face the biggest fall in living standards in a century.