The pace of food inflation has begun to slow, thanks to falling pressure from the Brexit-hit pound. According to data from retail industry data, food inflation in July slowed to 1.2%, after reaching a three-and-a-half year high in the previous month. The BRC-Nielsen Shop Price Index also showed the slowdown helped overall shop prices fall by 0.4% following the 0.3% reduction in June, as UK shoppers continue to face a squeeze from higher prices as a result of import costs going up in the wake of the collapse in the value of the pound after the EU referendum.