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Prices in British shops fell last month at a slightly slower pace although food price inflation remained at record low levels, the British Retail Consortium said on Wednesday. The BRC said retail prices in August were 1.6 percent lower than a year earlier, compared with a 1.9 percent decline in July which was the steepest fall in the survey’s more than seven-year history. Food prices rose 0.3 percent in August, matching July’s record low.

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