Food price rises continue to slow
Food inflation has slowed for the third consecutive month, but is still continuing to exert all the upward pressure on shop price inflation, according to new figures.
The monthly Shop Price Index (SPI) put together by the British Retail Consortium (BRC) and Nielsen showed food inflation stood at 3.6% in June, down from 3.8% in May and 3.9% in April.
Non-food prices were 0.9% lower in June compared to 12 months earlier, down on May's year-on-year fall of 1.2%. Non-food prices have fallen every month of the year so far.
The BRC said little inflationary pressure is coming from the retail sector, due to higher interest rates and disposable income levels standing at record lows.
