Food Inflation Drops to Lowest Rate Since December 2021: BRC

Food inflation has reached its lowest level since December 2021, aided by easing costs for key products such as butter and coffee, the British Retail Consortium (BRC) reported on Tuesday.

Data in the shop price index by the BRC and the retailer and business insight company NielsenIQ recorded a drop from 3.2 percent in May to 2.5 percent in June.

Consumers saw food prices ease to an average rate of 3 percent in a 14th consecutive deceleration and lowest inflation in the food category since December 2021.

The cost of both fresh and ambient foods went down below the three-month average rate and was at a record low in June.

In the fresh food category, inflation slowed to 1.5 percent, which is lower than the three-month average of 1.9 percent and the lowest rate since November 2021.

Read Full Article Here