Shop price inflation falls to lowest levels in a year during July

Supermarket shoppers

Shop price inflation hit its lowest levels seen all year in July, despite food prices remaining stubbornly high.

Annual shop prices decelerated to 7.6% in July – down from 8.4% in June – according to the BRC-NielsenIQ shop price index. This was below the three-month average inflation rate of 8.4% and down to the lowest level seen in 2023.

Prices deflated across categories, with food inflation decelerating to 13.4% in July, down from 14.6% in June. This was below the three-month average and the third consecutive month of falling prices.

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