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Shop price rises in the UK slowed to an annual rate of 0.6% in May, down from 0.8% in the previous month. Food inflation also fell for the thirteenth month in a row to 3.2%, providing some relief for household budgets under pressure from high inflation. Prices of non-food items like furniture, TVs, and audio equipment have been falling as retailers cut prices ahead of the Euros football tournament. Unusually wet weather has also helped ease prices, and promotional activity from retailers is expected to increase to boost demand.
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