Slowdown in Grocery Inflation as Cost of Living Crisis Persists

Grocery inflation has eased to its slowest monthly rate this year, with a rate of 16.5% over the four weeks to 11 June, according to industry data from Kantar Worldpanel.

This is down from the 17.2% figure a month ago, and marks the third month in a row that the rate of price growth in the sector has softened.

However, the report acknowledges that the wider pressures on household bills, particularly the cost of living crisis, remain.

Grocery inflation is still being propped up by the cost of eggs, "ambient cooking sauces" and frozen potato products.

The cost of living payments for 2023 and 2024 have been listed, and more than 6m people with disabilities will start receiving a £150 cost of living payment.

The government is targeting a halving of the rate of inflation this year, but food costs have consistently held back an easing.

Retailers have been cutting prices in the past few weeks, and Iceland offers interest-free loans to customers to help them buy food.

The article suggests that inflation is becoming a persistent issue in the economy and the gap between pay rises and inflation is decreasing.

Official wage figures support this claim.