‘Optimism’ as meals value inflation slows to lowest degree this 12 months
Food value inflation has slowed to its lowest degree this 12 months - as prices fall for staples akin to oils, fat, fish, and breakfast cereals, analysis suggests.However the speed of 13.4% - within the 12 months as much as July - nonetheless stays excessive.
But the British Retail Consortium (BRC), which compiled the figures with retail analysts NielsenIQ, mentioned it was nonetheless the bottom degree since December 2022 and represented "cause for optimism".It marks the third month in a row that the tempo of meals value rises has fallen, following charges of 15.4% in May and 14.6% in June.NielsenIQ additionally mentioned the figures confirmed "the outlook is improving".
Overall, the analysis discovered that annual store value inflation eased to 7.6% in July - the bottom cha...