Food price inflation drops to 15 month low

Grocery price inflation rose by 8.8% over the year to October, down from September's 9.9% increase, according to the British Retail Consortium (BRC) and NielsenIQ, a sixth straight month of easing. Overall shop price inflation slowed for the fifth consecutive month to 5.2%, its lowest rate since August 2022. This is likely to bring the headline Consumer Prices Index down from its current level of 6.7%. Higher for longer: The hope for equities lies in selection Imported goods saw higher levels of inflation due to a weaker pound, still-high producer costs and emerging trade frictions...