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UK Food Inflation Falls to 15-Month Low at 2.4%, Weakening Case for Rate Hike

2026-06-30 00:09:13

According to the British Retail Consortium, UK food inflation fell to a 15-month low in early June, with prices rising 2.4% year-over-year, down from 2.7% the previous month. Overall retail price growth remained at 1.2%. The decline was driven by lower fresh produce inflation and intense market competition, particularly in seasonal items like strawberries and ice cream. Market expectations for Bank of England rate hikes this year have weakened significantly, with traders no longer fully pricing in the three to four 25-basis-point increases previously anticipated.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

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