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UK food price inflation is starting to taper, according to retail group J Sainsbury, adding to early signs that the cost of living crisis may soon begin to ease.
“Food inflation is starting to fall and we are fully committed to passing on savings to our customers,” said Sainsbury’s chief executive Simon Roberts in a trading update. “Prices on our top 100 selling products are now lower than they were in March, against a market where prices have gone up.”
The company on Tuesday reported a 9.8 per cent increase in like-for-like sales, excluding fuel, for the first quarter, with grocery up 11 per cent.
Last month, the chief executive of rival Tesco said there were “encouraging” signs that inflationary pressures were easing.
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