UK supermarkets face calls for ‘profiteering’ investigation as inflation soars

Lib Dem leader calls for watchdog to probe reports of big retailers and food multinationals inflating markups

Britain’s biggest supermarkets are facing calls for the UK’s competition watchdog to investigate claims of profiteering amid the cost of living crisis, as industry figures show food price inflation soared to a record high in April.

With the rising cost of a weekly shop adding to pressure on households across the country, the Liberal Democrat leader, Ed Davey, called on the Competition and Markets Authority (CMA) to investigate whether any profiteering was taking place among supermarkets and food multinationals.