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Inflation in Shops Declines as UK Battles Living-Cost Crisis
Inflation in UK shops dipped this month, offering a glimmer of hope to ministers and central bankers struggling to contain the country’s cost-of-living crisis. Shop price inflation slowed to 8.4% in June, the British Retail Consortium said Tuesday, down from a peak of 9% in May. It was the sharpest decline since prices in shops started to rise at the end of 2021 following a period of deflation during the pandemic. Food price inflation eased for the second consecutive month to 14.6%, down from 15.4%, led by grocers cutting the prices of basics like milk, cheese and eggs. “Households up and down the country will ... (full story)