Shop price inflation falls to lowest level of 2023

First monthly fall

Shop price inflation dropped to its lowest level of 2023 in July and, for the first time in two years, prices fell compared to the previous month.

Overall annual shop prices inflation fell to 7.6% in July, from 8.4% in June, according to the British Retail Consortium-Nielsen shop price index. ECB hikes rates to match record high as inflation set to remain 'too high for too long' Leading the cuts was clothing and footwear, where retailers mitigated wet weather with larger discounts. The prices of non-food goods fell to 4.7% from 5.4% in June. Food price inflation also slowed to its lowest level this year, with falling prices across key staples such as oils, fats, fish, and breakfast cereals. Annual food prices inflation...