Brits think supermarkets are profiteering – despite slowing food inflationBrits think grocers make 10 times the profit they actually do (Yui Mok/PA Wire)The majority of Brits think that supermarkets are profiteering from rising food prices caused by the Iran war despite the Chancellor John Healey recently admitting there was little evidence of the practice, new polling has revealed. Some 70 per cent of UK voters believe that supermarkets are making “excessive” profits from food inflation, according to the latest City AM/Freshwater Strategy poll. Grocers make only 3p profit per poundBrits’ perceptions of supermarket price gouging comes despite food inflation slowing in recent months, reaching as low as 1.7 per cent in June. Around 70 per cent of voters believe that supermarket prices are still rising, though at a slower rate than before, while 14 per cent think that inflation is accelerating, according to the City AM/Freshwater poll. When told that supermarkets make only 3p in profit from each pound in sales, Brits’ belief that grocers are price-gouging fell to just 32 per cent.