The reading is down from 6-7%, suggesting pressure on grocery prices is easing even as households still face a squeeze.
UK supermarket food inflation has cooled to 4-5%, down from 6-7%, a Bank of England survey showed. The shift points to easing pressure on grocery prices after a period of sharper food-cost increases, though the survey indicates households are still feeling a squeeze. The update suggests the worst of the grocery crunch may be passing.