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    Home » Blog – Latest News Today
    Business

    CITY AM – Greedflation row heats up 

    WTX Business TeamBy WTX Business TeamMay 16, 2023Updated:May 16, 20231 Min Read
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    CITY AM - Greedflation row heats up 
    CITY AM - Greedflation row heats up 
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    CITY AM – Greedflation row heats up 

    CITYAM SAYS “Greedflation” is not to blame for prices surging in the UK and instead businesses are pushing up prices in response to soaring costs, a former Bank of England rate-setter claimed today.

    Michael Saunders, an ex-member of the monetary policy committee – the nine strong group that sets interest rates in Britain – and now senior economic adviser at consultancy Oxford Economics, has said isolated incidents of rising profits “do not reflect the overall picture” of the UK economy.

    Speculation that companies have been exploiting the inflation crisis by unfairly lifting prices to beef-up profits, a process known as “greedflation,” has gathered momentum in recent weeks.

    Supermarkets have been criticised for not passing on the reduction in commodity and transport costs as quickly as they raised prices after those costs soared.

    Read today’s business papers 

    CITY AM - Greedflation row heats up 
    CITY AM – Greedflation row heats up 

    Business pages City AM
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