Inflation in the UK is expected to fall back after industry figures showed the rising price of groceries eased in July, as more shoppers turned to supermarket loyalty cards amid the cost of living crisis.
The annual pace of grocery price growth cooled to 14.9% over the four weeks to 9 July, down from 16.5% a month earlier, according to the retail industry data provider Kantar, dropping to the slowest annual rate of growth since Christmas.
