Shop price inflation falls to lowest level of 2023

Overall annual shop prices inflation fell to 7.6% in July, from 8.4% in June, according to the British Retail Consortium-Nielsen shop price index. ECB hikes rates to match record high as inflation set to remain 'too high for too long' Leading the cuts was clothing and footwear, where retailers mitigated wet weather with larger discounts. The prices of non-food goods fell to 4.7% from 5.4% in June. Food price inflation also slowed to its lowest level this year, with falling prices across key staples such as oils, fats, fish, and breakfast cereals. Annual food prices inflation...