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British economy Faces New Inflation Risks
The article discusses the rising cost of living in Britain and the impacts of inflation over the past month, highlighting increased pressure from energy and food bills due to the repercussions of the wars in Iran and Ukraine. Despite the ongoing rise in energy prices, the overall inflation rate decreased to 2.9% in July, with expectations that it will rise to around 3.5% by the end of the year as costs are passed along through supply chains. Housing costs are expected to increase by October but remain well below previous record levels, which supports the likelihood that interest rates will not be raised significantly this year. Despite these positive indicators, risks remain due to ongoing regional conflicts that could lead to disruptions in energy markets.
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