BoE minutes revise upward inflation peak

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Minutes from the Bank of England's Monetary Policy Committee meeting showed that despite a fall in CPI inflation to 4.2% in June, evidence suggested inflation could peak higher than originally expected.

"Despite the fall in CPI inflation in June, recent developments in utility and imported food prices had indicated that the near-term peak in CPI inflation would probably be somewhat higher, and would occur sooner, than either the Committee had assumed at the time of the May Inflation Report proje

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