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Inflation subdued
Inflation was subdued again last month.
The Retail Prices Index (RPI) rose by 1.1% and the Consumer Prices Index, including housing, rose by 0.8% (year to June).
Even at these low levels inflation is eating into spending power.
TUC general secretary Frances O’Grady said the figures were no surprise “when people are afraid to spend because their job doesn’t feel safe”.