Food inflation falls to 15-month low, easing pressure on Bank of England to hike rates
Interest rate hope as food inflation falls
- Food prices inflation has fallen to 15-month low
- Strengthens case for Bank of England to leave rates unchanged
- Grocery prices up 8.8% in year to October, down from 9.9%
- Steep descent from near 20% peak after Ukraine invasion
- Further fall in food inflation increases pressure on Bank to ease off rate rises