Retailers hit back at Healey’s ‘profiteering’ threatJohn Healey has followed Rachel Reeves in warning of price-gougingRetailers have hit back at the Chancellor’s warning against profiteering, saying they will prove they have fought hard to keep food prices down during the Iran war. The British Retail Consortium (BRC) – which represents the UK’s biggest retailers including Sainsbury’s, Tesco and Asda – has hit back at Healey’s threat, warning that supermarkets will resist any claims that they are profiteering from the war. “That competition is also keeping food price inflation down – on which the government has done nothing to support the industry.” “We’d keep demonstrating the strength of competition to the CMA and prove again there is no profiteering,” he said. Rachel Reeves, Healey’s predecessor as Chancellor, sparked fury by suggesting that retailers may be “price-gouging,” and even explored asking grocers to cap the prices of essential foods.