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Food inflation remains well above the headline rate but has also fallen, down to 13.6% from las month’s 14.9% figure.
A further hike from the Bank of England remains likely despite the surprise inflation fall to 6.7%, beating consensus predictions of a rise on the back of higher petrol costs.
Headline CPI fell 0.1 percentage points month-on-month in July, while core CPI, excluding energy, food, alcohol and tobacco, fell 0.7 percentage points to 6.2%. Food inflation remains well above...
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