Food Inflation Drops Sharply as UK Living Cost Crisis Subsides
- Gauge has second-biggest decline in at least 15 years
- Drop in food inflation signals gradual easing for shoppers
A customer carries a basket of fresh fruit and vegetables at a market in Oxford, UK.
Photographer: Chris Ratcliffe/BloombergThis article is for subscribers only.
Grocery price inflation has fallen sharply, another sign that Britain’s cost-of-living crisis is gradually easing for consumers.
Annual price growth dropped 2.2 percentage points to 12.7% in the four weeks to Aug. 6, the second sharpest monthly fall since market research firm Kantar started monitoring prices in 2008. Grocery inflation has fallen for five months in a row from a record high reached in March.