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Inflation rate remains at 1.8 per cent

The UK inflation rate has unexpectedly held at 1.8 per cent as sales in the likes of DVD’s, computer games and alcohol rose.

Many economists had expected the Consumer Prices Index to decline further in July, while the Retail Prices Index also surprised with a rise from -1.6 to -1.4 per cent.

The CPI fall to 1.8 per cent in June was the first time in two years it breached the Bank of England’s target of 2 per cent.

Earlier this month, the BoE said the growth in consumer prices could temporarily fall below 1 per cent in the autumn.


McGuire joins AJ Bell

AJ Bell has appointed former Jardine Lloyd Thomson head of financial institutions Eddie McGuire as client services director.

Cover aims to fill pay gap

Salisbury Underwriting Services is offering a new product to help employees safeguard against loss of income if they are made redundant and have to take a lower-paid job.

Stroud & Swindon chief Hill steps down

Stroud & Swindon Building Society’s chief executive David Hill is stepping down at the end of August after nine years at the mutual. Finance director Kevin Bounds will take on the role while the society searches for a replacement.


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