UK Food Inflation Slows for Sixth Month Amid World Cup Discounts

UK food inflation has declined for a sixth consecutive month, according to data from the British Retail Consortium. Food prices rose by only 2.2% in July, down from June's rate of 2.4%. This decrease is attributed to retailers discounting snacks and alcohol to attract customers watching England's World Cup semi-finals. Energy costs remain elevated due to the conflict in the Middle East, but domestic pressures seem relatively subdued. A recent survey by the Bank of England predicted that food prices would peak lower than previously thought.