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A marginal dip in the headline rate of inflation would not normally determine much, if anything.

UK inflation was steady in June, with the headline rate at the Bank of England's target rate of 2%.

The ECB's decision followed Canada's rate cut on Wednesday which brought its headline rate down from 5% to 4.75%, after inflation there fell to 2.7%.

The headline rate for the year to April was 2.3%, hailed by the prime minister as a "major moment" - and a clear sign that his economic plan is working.

Sunak says today's fall in inflation is a "major moment for the economy", with the headline rate "back to normal" thanks to the hard work and resilience of the British people.