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UK inflation holds steady at 2.4% in October

Falls in the cost of food and clothing are offset by rising utility bills and petrol prices.

The average cost of everyday household goods and services went up by 0.6% in the year to August.

A drop in energy prices offset a rise in industrial goods and helped keep the eurozone's inflation rate at 0.2% in July.

China's inflation rate holds steady at 2.5% in January year-on-year, while producer prices continue to fall, according to official figures.

The kiwi traded at 83.09 US cents at 8am from 83.21 cents yesterday, holding on to most of yesterday's gain.

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