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Supermarket prices are still rising, but the latest The
Grocer Price Index figures show the rate of monthly
inflation continues to fall, suggesting inflation may be
close to peaking. Prices increased 1.1% in September,
against 1.4% in August and a record 4.3% rise in July.
The slowdown in price growth supports statements by
Tesco?s Sir Terry Leahy and Asda?s Andy Bond that prices
are likely to peak soon, especially as oil and commodity
prices fall sharply. At the start of the week, oil
prices had fallen 10.2% week-on-week, and continued to
fall as the week progressed.
Morrisons had the highest monthly inflation rate for the
second month running, at 1.7%. Tesco was close behind at
1.5%, while Sainsbury?s prices rose 1.1%. Prices at Asda,
however, fell by a tiny fraction ? 0.08% ? during
September.
Annual food price inflation rose slightly to reach
16.5%.
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