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Oil Falls on Fears Inflation May Dent Fuel Demand Growth

The International Monetary Fund cut its growth outlooks for U.S. and other major economies amid supply chain disruptions and cost pressures.

A fall in the price of clothing and second-hand cars offset a rise in fuel costs last month.

The UK's rate of inflation dropped in August from a month earlier, pushed down by falling air fares and an easing of clothing price rises.

The price of vegetables and toys rise during lockdown, but cheaper petrol sees inflation slide to 0.8%.

The slower rate of price increases comes as the Bank of England considers whether to cut interest rates.

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