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Pay and prices
Higher mortgages lift inflation
Dearer mortgages and leisure goods, such as CDs, pushed inflation higher in June. The annual rate of inflation as measured by the Retail Price Index (RPI) rose to 3.0% from 2.8% in May. Rises in the prices of household goods, such as carpets, also contributed to the rise.
The Consumer Prices Index (CPI), which excludes housing costs, rose to 1.6% in June from 1.5% the previous month.