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UK food and drink manufacturers have cut their prices for first time in over three years, offering hopes that the inflationary squeeze on households may be easing.
“June’s data shows that more and more sectors are seeing moderations in cost pressures, which could – if sustained – carry through to falls in prices charged to customers.
“However, any benefit this has in terms of future inflation trends could be cancelled out by what is clearly still strong demand in some areas of the economy, which could lead to inflation being ‘stickier’ than hoped.
