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Own label laundry capsules saw price hikes in Tesco and Waitrose this week.

Food manufacturers cut prices for the first time in three years last month, raising hopes that record-high grocery inflation will begin to ease soon, according to survey data from Lloyds’ monthly UK business tracker for June (The Times).

However, there is little meaningful evidence so far of widespread deflation in the Key Value Items tracker.

This week there were 24 price cuts, but they were balanced out by 34 price increases across the seven retailers, as inflation continues to raise prices.

Own-label 24-wash laundry capsules saw price hikes in Tesco and Waitrose this week, up 9p to £3.61 and £3.76 respectively.

Sainsbury’s unsmoked bacon came off promotion at £2.25, up from £2 last week.

Cathedral City 350g came off promotion in Aldi and Morrisons, with price increases of 24p and 25p respectively.

Prices in many cases remain up year on year by up to 69%. Granulated sugar, for example, is up by an average of 69%, while Fairy Platinum Quickwash is up 63%.

Among the scattering of price cuts this week were an offer on Nescafé Original by Asda which brought the price of a 100g pack down by 80p to £2.50.

Another offer at Asda cut 50p from a tin of Heinz Spaghetti, bringing the price to 75p, cheaper than the other mults at £1.25.

Morrisons dropped the price of Kellogg’s Crunchy Nut Cereal 500g, down 81p to £2.49 and frozen peas to 99p from £1.26. Aldi has a deal on mushrooms, down 26p to 99p.