Britain’s Food Inflation Cools to Lowest Level in Almost a Year

The slowest increase in grocery bills in almost a year drove down inflation in British shops in August, relieving some of the pressure on the Bank of England to keep raising interest rates.

The British Retail Consortium said that shop price inflation fell sharply again to 6.9% in August from 7.6% the month before. Food price led the decline, particularly for meat, potatoes and cooking oils.