Overall shop price in flation in the United Kingdom slowed in July to 1.0 percent from 1.1 percent in June, the British Retail Consortium reported Wednesday.
Food inflation declined in July to a two year low of 3.1 percent from 3.5 percent in June.
Non-food goods were lower in price than a year ago for a sixth straight month.
"A two-year low for food inflation is good news for hard-pressed households still suffering falls in disposable incomes. Lower shop price inflation is helping to narrow the gap between living costs and wage increases," said BRC Director General Stephen Robertson.
He warned that the price relief may not last. "Poor harvests, especially of corn and wheat in the USA, are creating a build-up of inflationary pressure. Animal feed has risen sharply in recent months and is likely to affect prices for things like meat, poultry and eggs."
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.