Company insolvencies jump 27% as high interest rates hit economy; UK grocery price inflation dips – as it happened

Grocery price inflation has dropped to 14.9%, still painfully high, while over 2,000 companies collapsed in June

• Full story: UK grocery price inflation eases as shoppers turn to loyalty cards
• Guardian Newsroom: Can the UK avoid a recession?

Ocado CEO Tim Steiner has also told reporters that we are definitely over the worst on UK food inflation, speaking after its results this morning.

Ocado's CEO has declined to comment about speculation of a takeover by Amazon that sent its shares soaring last month.

Speculation is speculation, I have nothing to say."