A vented baby bottle (28) is disclosed herein and comprises a bottle (30), a nipple (32), a mounting ring (34), and a vent assembly (36). The principle advantage offered by this invention includes decreasing aeration (gas bubbles) in the bottle's fluid by establishing an air passage (168) through the mounting ring into the interior (48) of the bottle. When this air passage is used in combination with a vent assembly having a self closing vent valve (132), the system allows atmospheric air to vent into the interior of the baby bottle when a lower than atmospheric pressure is created within the bottle, thereby preventing the aeration of the fluid contained in the bottle.