Iceland boss Richard Walker has accused branded baby formula makers of “exploitation”, after the competition watchdog found that prices had been rising faster than inflation and customers lacked cheaper alternatives.
Earlier this week, the Competition and Markets Authority published evidence following a review of price rises in the grocery sector. It found that prices of branded products rose faster than input costs for a number of goods, but it singled out baby formula as the area where consumers were hit hardest, due to a lack of competition.
