Food prices ease but credit card borrowing leaps wildly

SHOP prices are rising at the slowest rate for more than two-and-a-half years, figures out today show.

- Graham Hiscott

The average price of goods in stores nudged up 0.2% year-on-year in June, down from 0.6% in May and the lowest since October 2021, trade body the British Retail Consortium said.

The deceleration was driven by food prices, where inflation dropped from 3.2% to 2.5%.

Helen Dickinson, BRC chief executive, said: "During the height of the cost-of-living crisis, retailers invested heavily in improving their operations and supply chains to compensate for the impact of global shocks on input costs.