The third consecutive monthly easing in grocery inflation in the UK is nice, welcome, there is no reason for celebration yet, as the rate remains the sixth highest recorded in the past 15 years. The pace of grocery inflation has eased to its slowest monthly rate this year, according to industry data that backs hopes the worst may be over.
Kantar Worldpanel, which tracks supermarket sales and prices, reported a rate of 16.5% over the four weeks to 11 June. That was down from the 17.2% figure revealed a month ago. It marks the third month in a row that the rate of price growth in the sector has softened - but the report acknowledged it was no cause for celebration given the wider pressures on household bills amid the cost of living crisis.
The government is targeting a halving of the rate of inflation this year but food costs have consistently held back an easing.
Source: news.sky.com