Sainsbury’s and Unilever deny claims of profiteering in cost of living crisis

Critics claim big companies are stoking inflation by raising the price of goods above their rise in production cost. Photograph: Matt Cardy/Getty Images

Sainsbury’s and the Marmite maker Unilever have both insisted they are protecting shoppers from inflation, amid accusations that some companies are profiteering from the cost of living crisis.

“We are not profiteering in any form,” the chief executive of Unilever, Alan Jope, said as the consumer goods company insisted it was only passing on three-quarters of its increased costs to customers.