Explainer with Nick Dee.
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00:00Despite claims of reduced profitability due to rising operational costs, the UK's leading
00:08supermarkets have reported significant profits amidst rising food prices. Tesco's annual
00:14profits surged to £2.38 billion in 2024. That's up 12.8% from the previous year. Sainsbury's
00:22also posted a profit increase to £969 million. Asda's earnings rose to £886 million and
00:30Morrison's reported adjusted earnings of £828 million. These strong performances come
00:36amid substantial price hikes, prompting public outcry and calls for a government investigation
00:42into potential profiteering and unfair practices by those major supermarket chains. Critics
00:50argue that while supermarkets claim to shield customers from rising costs, the consistent
00:55profit report suggests otherwise. It does beg the question, how do you feel about price
01:01rises at the supermarkets in light of this?