‘Global greedflation’: big firms ‘driving 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 costs of raw materials and wages, pushing shopping bills to record highs, according to an analysis of hundreds of company accounts.

Highlighting a trend dubbed greedflation", the research indicates that 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.