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Our roundup this week includes news of UK inflation unexpectedly slowing in June, a shares rise for Royal Mail after a small pick-up in revenues, the unveiling of the new £10 note featuring Jane Austen, and a record rise for car insurance premiums over the last year.

ONS: Inflation slowed unexpectedly in June

The Office for National Statistics (ONS) has revealed that UK inflation unexpectedly slowed in June - the first time it has done so since last October.

Despite many economists expecting the rate to remain unchanged, consumer prices increased by 2.6% compared with a year earlier, which was markedly down on the 2.9% rise recorded for May (a climb that represented an almost four-year high).

This dip was the most significant between any two months since February 2015, and the slowdown could suggest that the Bank of England is likely to keep interest rates at a record low in August.

Royal Mail shares climb after small revenues rise

Shares in Royal Mail climbed 3.5% in early morning trading on Tuesday, making it the biggest riser on the FTSE 100.

The increase came after the company reported a 1% rise in group revenue for the three months to June 25. It had, however, recorded a 4% decline in UK letters revenue for the quarter - but this represented an improvement on the 5% fall reported for the previous full year, and was helped by the large volume of mail sent in relation to the general election at the beginning of June.

Moya Greene, Chief Executive Officer at Royal Mail, said: "We have had a good start to our financial year... We remain on track to deliver our cost avoidance and net cash investment targets for the full year."

New plastic £10 note design revealed

Bank of England Governor Mark Carney has revealed the full design of the new £10 note, which is likely to come into circulation in September.

The new plastic note features a portrait of the novelist Jane Austen, while the Royal Mint is also bringing into circulation a limited supply of a new £2 in honour of the author. The launch marks the 200th anniversary of her death.

The same material will be used for the new £10 note as is used for the new £5 note. This means it will also contain some tallow - a substance made from animal fat.

ABI: Record rise for car insurance premiums     

New research from the Association of British Insurers (ABI) has revealed that motorists are facing the fastest year-on-year increase in insurance premiums since such costs were first measured five years ago.

It was shown that the typical cost for an annual policy now stands at £484 following an 11% rise in average car insurance premiums over the past year.

Huw Evans, Director General of the ABI, commented: "This dramatic increase drives home how important it is the government press ahead with a new framework for the discount rate and call a stop to further hikes in insurance premium tax."

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