Food price growth slows for fourth month, say Kantar
New figures show food price inflation has slowed for the fourth month in a row but still remains “incredibly high.”
Grocery prices rose by 14.9% in the four weeks to 9 July compared with a year ago, down from 16.5% in June, according to market research firm Kantar.
It says Britons were spending more on supermarket promotions to save money.
Food prices are one of the biggest contributors to the UK’s overall rate of inflation which remains high.
New figures, due on Wednesday, are expected to show that the overall pace of price rises slowed to 8.2% in June, from 8.7% in May.
But the Bank of England is still expected to continue rising interest rates, which it has been using as a tool to curb rising prices and bring inflation down to the target of 2%.
