Inflation figures: Rate of price rises falls sharply

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A drop in energy costs and a slight reduction in food prices has led to inflation falling to its lowest level in 17 months.

The Office for National Statistics says the consumer price index measure of inflation was 6.8% in the year to July, down from 7.9% in June.

Chancellor Jeremy Hunt welcomed the news, but as our Business Correspondent Gurpreet Narwan explains, interest rates are still likely to rise.

#interestrates #inflation #jeremyhunt

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