UK grocery price inflation at lowest in nearly three years 

Annual pace of UK supermarket price increases dropped to 1.6% in the four weeks to July 7 from a year earlier, ahead of a decision by Bank of England on interest rate cuts

UK grocery price inflation stood at 1.6% this month. 

UK grocery price inflation fell to its lowest level since September 2021 in a further sign of easing cost pressures, ahead of a crucial decision by the Bank of England (BoE) next month on whether to cut interest rates.

The annual pace of UK supermarket price increases dropped to 1.6% in the four weeks to July 7 from a year earlier, according to data published by research firm Kantar on Tuesday, down from 2.1% in the same survey last month.