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UK inflation holds steady at 3%

Falls in fuel prices were offset by higher food costs, particularly the price of potato crisps, the Office for National Statistics (ONS) said.The Consumer Prices Index (CPI) had been expected to rise, with the Bank of England forecasting it would peak at 3.2% this autumn.The official target for the CPI is 2%. If the CPI inflation rate had risen above 3%, Bank of England governor Mark Carney would have been forced to write to the chancellor explaining why it was so far above target.
Source: Latest News

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