Competition watchdog the Competition and Markets Authority (CMA) is to further scrutinise the food supply chain and bring forward its update of competition and unit pricing in the grocery sector to earlier in July.
The announcement came after supermarket bosses denied claims they are making large profits from the cost-of-living crisis at a meeting earlier this week.
CMA Chief Executive Sarah Cardell said: “As rising inflation continues to put pressure on household and business budgets, the CMA is unrelenting in its commitment to promote open and competitive markets, and ensure consumers can shop around effectively for the best deals.
“We will continue to invest heavily in scrutinising issues economy-wide, to make sure we invest our resources in those areas that matter most.”
The CMA also said it will deliver a better deal for motorists by publishing its review of fuel pricing on Monday (3 July).
