Food price growth slows for fourth month, say shops

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Food price growth slows for fourth month, say shops
United Kingdom Latest News,United Kingdom Headlines
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Shoppers are spending more on promotions to save money but overall inflation remains 'high'.

Food price inflation has slowed for the fourth month in a row but remains "incredibly high", figures show.

However, the Bank of England is expected to continue raising interest rates, which it has been using as a tool to curb rising prices and to bring inflation down back to its 2% target. However, these pressures appear to be easing while Kantar said UK shoppers had dramatically changed their behaviours to cut costs "whether by trading down to cheaper products or visiting different grocers".

Kantar said that at the current level of inflation, households would have spent £683 more on their annual grocery bill if they had bought the same products they did last year.

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