Britain 'over the worst' of food price inflation

BRITAIN'S cost-of-living crisis is finally easing.

- Geoff Ho

Food price inflation is falling at an accelerated rate and producers' prices are dropping for the first time since the pandemic.

At online supermarket Ocado's half-year results, founder and CEO Tim Steiner said the UK is "definitely over the worst" of food price rises.

Data from market research group Kantar shows food price inflation dropped by 1.6 percentage points to 14.9 per cent over the four weeks to July 9.

The previous four-week period saw figures down 0.7 per cent to 16.5 per cent. At its March peak, prices soared at a record 17.5 per cent.

Fraser McKevitt, head of retail and consumer insight at Kantar, said that while grocery price inflation falling for the fourth month in a row was "good news for many households", it was still "incredibly high".