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Clothing and footwear prices fall 5.7% in July

The price of clothing and footwear dropped by 5.7% in July due to greater discounting in summer Sales.

The drop, which was larger than a slip of 3.2% during the same period last year, was caused by Sales starting several weeks later than they did a year ago, as warmer weather boosted full-price purchases and reduced the need to discount.

According to the Office for National Statistics, the Consumer Price Index dropped to 1.6% last month from 1.9% in June, marking the seventh straight month that inflation has recorded below the Bank of England’s 2% target.

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