Posted 11/29/2023, 3:43:07 PM
Food Brands Raise Prices Beyond Costs, While Baby Formula Firms Reap High Profits
- Makers of popular food brands have raised prices more than costs, adding to food inflation
- Baby formula prices rose 25% in 2 years; market dominated by 2 firms with high profits
- Shoppers increasingly buy cheaper own-label products over pricier brands
- Watchdog concerned parents lack info to make informed choices on baby formula
- Supermarket loyalty card schemes to be probed over concerns some shoppers miss out on discounts