Food price inflation has slowed to its lowest level this year amid falling prices for staples such as oils, fish, and breakfast cereals, figures show.Food inflation decelerated to 13.4% in July, down from 14.6% in June - the third consecutive slowing and its lowest level since December last year, according to the British Retail Consortium (BRC)-Nielsen Shop Price Index.Overall, shop prices were 7.6% higher in July than a year ago, slowing from 8.4% in June, and also the lowest level this year.Pr

Food price inflation has slowed to its lowest level this year amid falling prices for staples such as oils, fish, and breakfast cereals, figures show.Food inflation decelerated to 13.4% in July, down from 14.6% in June - the third consecutive slowing and its lowest level since December last year, according to the British Retail Consortium (BRC)-Nielsen Shop Price Index.Overall, shop prices were 7.6% higher in July than a year ago, slowing from 8.4% in June, and also the lowest level this year.Prices fell compared with June for the first time in two years.BRC chief executive Helen Dickinson said: "Food price inflation also slowed to its lowest level this year, with falling prices across key staples such as oils, fats, fish, and breakfast cereals."These figures give cause for optimism, but further supply chain issues may add to input costs for retailers in the months ahead."Russia's withdrawal from the Black Sea Grain Initiative and subsequent targeting of Ukrainian grain facilities, as