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Inflation drops to 4.2% in June

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Twelve-month inflation slowed unexpectedly to 4.2 percent in June from 4.5 percent in May as cheaper toys and televisions helped to offset high food and energy prices, official data showed on Tuesday.

Consumer Prices Index inflation also surprisingly fell by 0.1 percent in June from May on a month-on-month basis, the Office for National Statistics (ONS) said in a statement.

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Analysts had forecast the annual rate to remain at 4.5 percent, which had been the highest level since September 2008, and predicted a month-on-month gain of 0.2 percent, according to a poll by Dow Jones Newswires.

“The main downward effects came from games, toys and hobbies, particularly computer games, and from audio-visual equipment and related products, where price discounting this year of items such as digital cameras, DVDs and televisions contributed to the downward movement,” the ONS said in a statement.


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Trump is ‘feeling threatened and running scared’ to cancel G-7 at Doral: ‘Art of the Deal’ co-author

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President Donald Trump announced late on Saturday evening that he was reversing his administration's decision to hold the G-7 Summit at his Trump National Doral Miami golf club.

Trump had received harsh criticism for the selection violating the constitution’s domestic and foreign emolument clauses.

Tony Schwartz, who co-wrote The Art of the Deal with Trump, said the announcement was a sign Trump is feeling threatened.

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Trump announces G-7 won’t be held at Doral after widespread criticism for it violating the Constitution

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President Donald Trump announced Saturday evening that the G-7 Summit will not be held at his Trump National Doral Miami golf club.

The selection of Doral had been widely condemned as a clear violation of both the constitution's domestic and foreign emolument clauses.

"I thought I was doing something very good for our country by using Trump National Doral, in Miami, for hosting the G-7 leaders," Trump claimed.

"I announced that I would be willing to do it at no profit or, if legally permissible, at zero cost to the USA. But, as usual, the hostile media and their Democrat partners went crazy!" Trump argued.

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Trump says illegally profiting from the G-7 Summit was him ‘doing something very good for our country’

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President Donald Trump attacked his perceived political opponents on Saturday even as he attempted to defend his decision to host the G-7 Summit at his Trump National Doral Miami golf club.

"I thought I was doing something very good for our country by using Trump National Doral, in Miami, for hosting the G-7 leaders," Trump claimed.

"I announced that I would be willing to do it at no profit or, if legally permissible, at zero cost to the USA. But, as usual, the hostile media and their Democrat partners went crazy!" Trump argued.

Ethics officials have said Trump's decision to choose Doral is a clear violation of both the constitution's domestic and foreign emolument clauses.

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