Greedflation (price gouging by suppliers and producers during inflationary times) is a term that is once again popping up in the grocery sphere. The likes of Tesco and Walmart have taken suppliers to court over unreasonable price increases.
John Allan, Tesco Chairman, told the BBC that the company had ‘fallen out’ with a number of suppliers after the supermarket challenged a number of price increases. The major retailer has a team that looks at the price of products and the items they comprise to determine if prices are legitimate.
Investigations into greedflation are currently taking place in Canada, and Campbell Soup is still paying for its mistakes in greedflation with Walmart in the USA in 2019.
