Food inflation decelerated to 7.8% in November, the lowest since July 2022, new data reveals.
The BRC-KPMG Shop Price Index reveals fresh food inflation slowed further in November, to 6.7%, down from 8.3% in October, the lowest since June 2022.
The data also reveals that ambient food inflation decelerated to 9.2% in November, down from 9.5% in October, and is the lowest since October 2022.
Mike Watkins, Head of Retailer and Business Insight at NielsenIQ, said: “Food retailers will be optimistic that footfall will increase as inflation slows and shoppers get into a festive mood. Across all retail, this year shoppers will be making savings on everyday essentials to help pay for their family Christmas.”
Helen Dickinson, Chief Executive of the British Retail Consortium, added: “Food inflation eased, thanks to lower domestic energy prices reducing overall input costs, particularly for dairy products. Ambient food inflation slowed but remained higher than fresh food due to a larger proportion of goods being imported to the UK and impacted by the weak pound.”
Overall Shop Price annual inflation decelerated further to 4.3% in November, down from 5.2% in October.
