Supermarket food prices have grown by 25% in the last two years, highlighting the need for businesses to give accurate pricing information on loyalty card offers and promotions to help customers get the best deal.

The company has lobbied the government to close loopholes that create supermarket price differences.

The ONS will release June inflation, which is expected to be 8.2%, down from 8.7% in May. Which is the most recent?

Food and beverage inflation was 15.4% in the year to June, down from 16.5% in May.

With butter and bread costs lowering, Helen Dickinson, CEO of the British Retail Consortium, said merchants had worked hard to absorb cost increases under “sky-high” inflation.

Following charges of greedflation in the food industry, the CMA will update its supermarket price probe.