Food price inflation drops to 15 month low

Fifth consecutive monthly slowdown

Food price rises eased again in October, increasing expectations the Bank of England will leave rates unchanged on Thursday.

Grocery price inflation rose by 8.8% over the year to October, down from September's 9.9% increase, according to the British Retail Consortium (BRC) and NielsenIQ, a sixth straight month of easing. Overall shop price inflation slowed for the fifth consecutive month to 5.2%, its lowest rate since August 2022. This is likely to bring the headline Consumer Prices Index down from its current level of 6.7%. Higher for longer: The hope for equities lies in selection Imported goods saw higher levels of inflation due to a weaker pound, still-high producer costs and emerging trade frictions...