Food price inflation slows to lowest level this year

New figures suggest nutrient terms ostentation has slowed to its lowest level this twelvemonth arsenic prices for oils, fish, and meal cereals fall.

According to the British Retail Consortium (BRC) and NielsenIQ retail analysts, nutrient ostentation slowed to 13.4% successful July. It was 14.6% successful June.

But overall, store prices were inactive 7.6% higher this July than a twelvemonth ago.

BRC main Helen Dickinson said the figures were "cause for optimism" but warned of proviso concatenation issues ahead.

Russia's withdrawal from the Black Sea Grain Initiative and targeting of atom facilities, arsenic good arsenic atom export restrictions from India, were "dark clouds connected the horizon", she said.

"We expect immoderate planetary commodity prices to emergence again arsenic a result, and nutrient prices volition beryllium slower to fall."

According to the BRC commercialized body, the caller numbers marked a 3rd consecutive period of slowing and the lowest level of nutrient ostentation since December past year.

Clothing and footwear were among the beneficiaries past period arsenic retailers "mitigated bedewed weather" with larger discounts, Ms Dickinson said.

Mike Watkins, caput of retailer and concern penetration astatine NielsenIQ, admitted the outlook was improving.

"Shoppers proceed to alteration however they store arsenic portion of their coping strategies," helium said.

"This includes buying astatine antithetic retailers, buying little priced items, delaying walk oregon lone buying erstwhile determination are promotions."

In the past twelvemonth oregon so, soaring nutrient and vigor bills person helped thrust ostentation up.