Branded grocery suppliers accused of profiteering by competition watchdog
Suppliers of so-called branded goods have "pushed up prices by more than their costs", according to the competition watchdog.
The Competition and Markets Authority (CMA) has been examining 10 product categories including milk, baked beans and baby formula in a bid to see if shoppers, already struggling amid the continuing cost of living crisis, are being ripped off.
The regulator said that while more work was needed, including in the baby formula sphere that has been the subject of work by Sky News, it was clear that some branded goods were over-priced.
The CMA issued its update after previously finding that higher prices in stores were not the result of weak competition between supermarket chains.
The watchdog did, however, demand tighter rules over so-called unit pricing - costs per item covering versions of the same product - to bolster price transparency.
It also previously found that supermarket fuel operators had charged motorists an extra £900m in 2022 by raising their margins on both petrol and diesel sales.