Shop inflation now lowest rate this year

Annual shop price inflation dropped to its lowest rate this year last month.

British Retail Consortium/NielsenIQ research found that the rate dropped from 8.4% in June to 7.6% in July. 

On a monthly basis, prices fell by 0.1%.

Non-food inflation decreased to 4.7% in July, down from 5.4% in June, largely because of reductions in the price of clothes and footwear.

Food inflation dropped from 14.6% to 13.4%, the lowest rate since December 2022.

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