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Inflation Rises Above Target; Lifted by.....>

UK DATA: Inflation Rises Above Target; Lifted by Computer Games
-UK July CPI +2.1% y/y vs +2.0% in June
-UK July Core CPI +1.9% y/y vs +1.8% in June
-UK July RPI +2.8% y/y vs +2.9% y/y in June
-UK July CPIH +2.0% y/y vs +1.9% in June
UK CPI rose by more than expected in July, breaching the Bank of 
England's 2.0% target and exceeding the MNI median forecast of a 1.9% 
annual gain. Recreation and culture contributed 0.09 percentage points 
to the change in CPI, lifted by rising prices for computer games and 
consoles. Bank of England staff forecast inflation to fall to an annual 
rate of 1.8% in July, and MPC members predicted a fall in CPI at their 
most recent rate-setting meeting.

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