House prices drop at fastest rate in 14 years with food inflation also falling

The average UK house price fell at the fastest annual rate in 14 years in July, according to an index.

Property values declined by 3.8 per cent on average annually last month, marking the weakest reading since July 2009, Nationwide Building Society said.

Meanwhile food price inflation has also slowed to its lowest level this year amid falling prices for staples such as oils, fish, and breakfast cereals, figures show.

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