UK interest rate rise in doubt as inflation stays at 2.4%

Slowing house price rises and summer clothing sales dampen predicted leap

The chances of a rise in interest rates in August have dipped after British inflation remained at a one-year low last month, triggered by the summer sales.

Confounding expectations for the return of higher rates of inflation in June fuelled by the rising price of petrol, the Office for National Statistics said the consumer price index remained unchanged at 2.4% from the previous month.

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