Bank of England's Bailey: Food firms rebuilding profit margins could be adding to inflation

Quizzed by Labour's Angela Eagle about so-called "greedflation" as grocery prices stand at a 45-year high, Bailey said the bank's intelligence from across industries could point to profit-making among producers, rather than just the feed through of higher raw material costs to consumers. He told MPs: "We pick up information, particularly by our agents, and certainly we have heard the rebuilding story.  "It is a story about rebuilding [profit] margins that were squeezed, particularly last year and the early parts of [2023]." Chancellor to raise high price concerns with food manufact...