Summary: Food inflation has fallen for the fifth consecutive month, albeit not as rapidly as before. Staple items like milk and sunflower oil have seen price decreases, providing some relief for shoppers. Branded goods, including popular items like chocolate slices and cheddar, have witnessed significant price spikes. The Bank of England's chief economist anticipates that food prices may not return to pre-pandemic levels. ...

Supermarkets Cleared of 'Profiteering', but Told to Make Their Pricing 'Clearer' Summary: Supermarkets found not guilty of 'profiteering' from rising food prices due to intense competition. Retail grocery sector saw a significant decline in profits and operating margins. Baby formula and some everyday staples experienced higher price increases. Various factors, including geopolitical events and COVID-related disruptions, contributed to price rises. Supermarkets urged to improve price label clarity to facilitate customer comparisons and ensure fair deals. ...

Food Shortage: Farmers 'can't bear' extra costs Depleted by drought, last summer's heat waves are still biting, this time into food supplies. Having much less water in the bank at this time of year means that we have had to reduce our irrigated cropping area by 25 per cent for this next growing season. Andrews scaled back his vegetable crops, with other farmers doing the same amid warnings of more shortages to come. The cost of production has increased almost exponentially, which is a massive challenge. Many businesses just can't bear that extra cost and they just can't take that risk. So we're really calling on the retailers to pay at least what it costs to produce, plus some form of margin to make it more sustainable and to encourage us to continue to produce food in the UK. Severe weather overseas is already disrupting supplies. Supermarkets are ration...

Summary: China's deflation could lead to cheaper import s globally, potentially benefiting the UK's consumer market. UK inflation may receive some relief from cheaper Chinese import s, but ongoing challenges persist. Sustained deflation in China might hinder UK exporters due to delayed spending and slower market growth. Global trade, consumption, and commodity prices could be significantly affected by a slowdown in China's economic growth. ...

Russia Continues Fourth Day of Attacks on Ukrainian Food Export Facilities amid Escalating Tensions Summary: Russia launches consecutive attacks on Ukrainian food export facilities for four days. Tensions escalate with Ukraine's defiance of Russia's naval blockade on grain export ports. Western leaders view the attacks as an attempt by Russia to evade sanctions and cause a global food crisis. Russia claims the attacks are in retaliation for a Ukrainian strike on a Russian-built bridge to Crimea. Concerns rise over the safety of civilian shipping in the Black Sea region. Escalations continue as Poland reinforces its border amid Russia...

Summary: Russia n missile and drone strikes target Ukrainian infrastructure and grain facilities , impacting global food prices . Russia 's exit from the Black Sea grain initiative leads to increased attacks on Ukrainian grain facilities and civilian shipping. Ukraine 's air defenses are stretched, creating vulnerabilities in its defense capabilities. US limitations on arms supplies may limit further support for Ukraine on the battlefield. Waves of Russia n missile...

UK Inflation Falls But Still Among Highest of Major Economies Summary: UK inflation remains high, causing financial strain for millions of households. Families face rising prices for essential items, while wages lag behind. Housing costs are adding to the burden, with mortgage rates on the rise. Supermarkets face criticism for not passing on cost cuts to consumers. Government efforts to tackle the cost of living crisis face scrutiny and demand for more action. Millions of hous...

Summary: Ukrainian President Zelenskyy visits troops near the frontline as part of the summer offensive . Russian trenches near the city of Bakhmut targeted in the offensive. The enemy fiercely defends every centimeter of territory. President Zelenskyy awards gallantry medals to special forces engaged in the war. Russia intensifies missile strikes , hitting civilian areas as well. Accusations of war crimes do not deter Putin from hosting African leaders . African countries offered weapons and military training by Russia. Coup in Niger presents opportunities for Russia to extend influence. Vardner mercenary leader seeks f...

Summary: Rishi Sunak defends his strategy to tackle inflation in an exclusive interview with ITV News, stressing responsible borrowing . Sunak acknowledges the role of the government in curbing inflation and highlights the potential negative impact of excessive borrowing on long-term economic stability . Sunak discusses the effects of interest rate rises and emphasizes the importance of sustainable pay increases tied to productivity growth. Sunak confirms the government's commitment to the triple lock policy for pensions and expresses his intent to support individuals facing inflation -related pressures. Sunak addresses ca...