The UK's major supermarkets are being called out for "profiteering" as food prices continue to rise. The Liberal Democrats are urging the competition watchdog to

investigate whether food retailers are raising prices beyond what is necessary. The party has conducted an analysis that reveals the average family's weekly food bill has risen by £12, leading to an annual increase of over £600 per household.

The Office for National Statistics has reported that food inflation rose to 19.1% in the year to March, the highest rate since 1977. While various measures of grocery price rises exist, the BRC-NielsenIQ shop price index indicates a 15.7% increase in food prices for the year to April, the largest rise since records began. However, according to Kantar, grocery inflation fell slightly to 17.3%, down slightly from a peak of 17.5%.

The Liberal Democrats want the Competition and Markets Authority to investigate whether big supermarkets and food multinationals are engaged in profiteering. Party leader Sir Ed Davey has said that food prices have "gone through the roof" under the Conservative government and that "profiteering by food multinationals and the big supermarkets" must be addressed to ensure customers get a fair deal. Photo by Mtaylor848, Wikimedia commons.