Greedflation: are businesses profiteering from the cost of living crisis?

As food inflation rises to 19.2%, its highest rate in 42 years, the European Central Bank has suggested that it could be down to, in part, businesses profiteering from the cost of living crisis by increasing their prices for larger margins, a term known as 'greedflation'. <br /><br />But what is the data behind the suggestion? <br /><br />On the Sky News Daily, Sally Lockwood is joined by our economics and data editor Ed Conway, who helps to shed light on what greedflation is and how this term came about. He also shares data Sky News has calculated that breaks down what supermarkets spend their profits on. <br /><br />Producer: Soila Apparicio <br />Junior Producer: Amy Lakin <br />Promotions Producer: David Chipakupaku <br />Editor: Philly Beaumont