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UK inflation: Slowing food prices drive surprise fall
In August, inflation in the UK slowed down to 6.7%, which is the lowest rate in over a year and a half. This is unexpected, as most experts had predicted an increase in inflation due to rising fuel prices. However, food prices decreased, particularly for milk, cheese, and vegetables, which helped drive the overall inflation rate down. Despite this good news for consumers, Nick Collins, who runs Lounges, a chain of cafes, bars, and restaurants, notes that his business has seen no change in customer behavior, despite higher food costs, and he has had to increase prices by 8% over the past year. The UK's inflation rate remains high compared to other developed economies, but the government is committed to halving inflation this year. To save money on their grocery bills, consumers can try the BBC's tips for cutting costs.
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