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UK retail sales fell by 2.5% month-on-month in July, according to the latest figures released by the Office for National Statistics (ONS).

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UK gross domestic product (GDP) is estimated to have grown by 0.8% in May 2021, according to the latest figures from the Office for National Statistics (ONS).

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The Bank of England (BoE) has forecast that annual inflation would likely surpass 3% for a "temporary period". Yesterday, the bank announced the revised forecast at its monthly Monetary Policy Committee meeting where it also decided to hold the UK base rate at 0.1%.

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The UK is set to experience the strongest economic growth since the Second World War this year, with a faster-than-expected recovery from the coronavirus pandemic, according to the Bank of England. The bank has hiked its estimate for UK GDP growth to 7.25% in 2021, up from February’s forecast

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Consumer price inflation rose to 0.7% in March from a three-month low of 0.4% in February, according to the latest figures released by the Office for National Statistics (ONS).

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