All the day’s economy and financial news, as Ankara hikes the tariffs on US rice, spirits and cars

Related: UK rail fares to rise by 3.2%

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Just in: New inflation figures show that Britain’s cost of living squeeze continues.

The consumer prices index rose by 2.5% in July, up from 2.4% in June – the first year-on-year increase in 2018.

Rail fares to rise 3.2% in January, inflation figure confirms

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Read More Turkish lira crisis: Turkey raises tariffs on US goods – business live

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