Suppliers for retailers increase prices by more than double inflation

Suppliers for retailers have increased prices by more than double the rate of inflation.

Some have requested up to 30 per cent more despite their own costs having risen by just 15 per cent, according to business management consultant Inverto.

Boss Sushank Agarwal said some had been ‘using inflation to grow their profit margins’.

Last month, household titans behind some of Britain’s favourite brands – including Heinz baked beans and Head & Shoulders shampoo – were accused of ‘greedflation’ after cashing in monster profits while whacking customers with heftier prices.