uk inflation rate april 2022

You can change your cookie settings at any time. More information is available in our Chain-linking in business prices article. CPI. The March 2022 annual rate of 18.6% has been revised down from the first published estimate of 19.2%. Coronavirus and the effects on UK prices Article | Released 6 May 2020 Plans for data collection, compilation and publication of our various prices statistics following movement restrictions as a result of the coronavirus (COVID-19) pandemic. 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In April 2022 the CPI monthly rate was 25 compared with 06 in April 2021. You can change your cookie settings at any time. To calculate cumulative rates between two different periods, you can use the United Kingdom Inflation Calculator. The advice NSCASE provides to the National Statistician will span the full range of domains in economic statistics, including the national accounts, fiscal statistics, prices, trade and the balance of payments and labour market statistics. Consumer price inflation, UK: June 2022 time series; Overview of inflation and the cost of living: June 2022; Consumer price inflation, UK: April 2022; Consumer price inflation, UK: May 2022 time . The monthly rate of imported inputs slowed by 4.1 percentage points, from 4.9% in March 2022 to 0.8% in April 2022. Official statistics are produced impartially and free from political influence. Price level in a specific basket of goods. The UK inflation rate surged to. Inflation in 2022 and its effect on pound value. Allan Monks, an economist at JPMorgan in London, also now sees inflation spiking higher, hitting at 8.9% in April, and Bank Bank of America economist Robert Wood raised his forecast to 8.8% . Consumer price inflation, UK: September 2022. Quarterly estimates monitoring the changes in prices charged for services provided to UK-based customers for a range of industries. At the centre of this new governance framework will be the new National Statistician's Committee for Advice on Standards for Economic Statistics (NSCASE). Wed like to set additional cookies to understand how you use GOV.UK, remember your settings and improve government services. In this article, we will look at global inflation rates by country and inflation around the world. This data was released on for the reference month of October 2022. Comprehensive database of time series covering measures of inflation data for the UK including CPIH, CPI and RPI. Following the UK's exit from the EU, new governance arrangements are being put in place that will support the adoption and implementation of high-quality standards for UK economic statistics. The change in this price level of goods and services is defined as the rate of inflation. The inflation calculator also tells you the average yearly inflation rate between two years or months (current year only . The current inflation rate in Ireland is 8.17%, which is calculated based on CPI (Consumer Price Index) values for the last 12 months ending in September 2022. The annual rate of output inflation increased by 2.1 percentage points from 11.9% in March 2022 to 14.0% in April 2022. https://www.ons.gov.uk/releases/consumerpriceinflationukapril2022timeseries. The March 2022 annual rate of 18.6% has been revised down from the first published estimate of 19.2% last month. The global inflation rate surged from 4.35% in 2021, and 3.18% in 2020. We would like to use cookies to collect information about how you use ons.gov.uk. 1 in 2021 is equivalent in purchasing power to about 1.13 today. We also use cookies set by other sites to help us deliver content from their services. Today's move, which pushes the deposit rate up to its highest. The annual UK inflation rate more than doubled in April, as a rise in energy and clothing costs drove prices higher. . The annual inflation rate in the United States has increased from 3.2 percent in 2011 to 8.3. This is because the sterling effective exchange rate is a trade-weighted index that represents all UK trade, whereas producer prices reflect transactions in the manufacturing sector. The inflation rate year over year is 10.096% (compared to 9.870% for the previous month ). Consumer price inflation hit 9 percent in April, the Office for National Statistics (ONS) said on Wednesday, surpassing the peaks of the early 1990s recession that many Britons remember for. Sept Yearly: 8.2%. UK House Price Index Bulletin | Released monthly Monthly house price inflation in the UK, calculated using data from HM Land Registry, Registers of Scotland, and Land and Property Services Northern Ireland. Between August and September 2022, CPIH services rose by 0.2%, which meant that the annual inflation rate rose to 5.3% in September 2022, from 5.1% in August. The Consumer Prices Index including owner occupiers' housing costs (CPIH) rose by 8.8% in the 12 months to September 2022, up. 09 Nov 2022 01:02:23 The World Inflation Rate The average inflation rate around the world is 7.4%. The pound had an average inflation rate of 5.70% per year between 2019 and today, producing a cumulative price increase of 18.11%. Published. This is the latest Consumer Price Index and Inflation Rate data for the United States. The economy and markets are "under surveillance". Jump to: Countries with the Highest Inflation Rates Countries with Hyperinflation Russian Inflation Price quote data and item indices that underpin consumer price inflation statistics are now published, giving users unprecedented access to. Previous UK Inflation Rate August 2022 to September 2022 0.500% View latest release. Core inflation, which excludes energy, food, alcohol and tobacco, came in at 6.2% in the year to July 2022, rising from 5.8% in June and ahead of projections of 5.9%. signifying compliance with the Code of Practice for Official Policy papers and consultations. We use some essential cookies to make this website work. Oct 13 Reuters - UKs FTSE 100 fell for a seventh straight session on Thursday after red-hot US. It will take only 2 minutes to fill in. Contains producer price indices of materials and fuels purchased and output of manufacturing industry by broad sector. You can find out more about how these rates are calculated inSection 5: Measuring the data. While there is no change in the input annual rate, 8 of the 10 product groups showed upward contributions to the change in the annual rate, which were entirely offset by downward contributions from crude oil, and metals and non-metallic minerals (Figure 5). Response rates for the domestic PPI and Export Price Index (EPI) show an increase between March 2022 and April 2022, whereas the response rates for the Import Price Index (IPI) show a decrease between March 2022 and April 2022 (Table 6). State pension increase 2023: How much the current rate will rise in April if it follows UK inflation. Check benefits and financial support you can get, Limits on energy prices: Energy Price Guarantee, Consumer price inflation, UK: April 2022 time series, Consumer price inflation, UK: June 2022 time series, Overview of inflation and the cost of living: June 2022, Consumer price inflation, UK: May 2022 time series. In PPI, the weights usually have greater influence on the contribution as these tend to show greater change than the annual inflation rate. U.K. inflation rate for 2021 was 2.52%, a 1.53% increase from 2020. The following gives examples of how weight and inflation rate changes most commonly affect the contribution. Consumer price inflation, UK: September 2022 What's in the bulletin? Food and drink price inflation has hit its highest level since April 1980, with prices rising by 14.6% over the past year, up from 13.1% in August. This product group had positive annual price growth of 19.9% in April 2022 (Table 5), although this was down from 20.2% in March 2022. By Henry Sandercock. This annual rate of 18.6% in March and April 2022 is the highest since records began in January 1985. Consumer prices inflation, UK Bulletin | Released monthly Price indices, percentage changes and weights for the different measures of consumer price inflation. Check benefits and financial support you can get, Limits on energy prices: Energy Price Guarantee, Consumer price inflation, UK: April 2022 time series, Consumer price inflation, UK: June 2022 time series, Overview of inflation and the cost of living: June 2022, Consumer price inflation, UK: May 2022 time series. These data provide users with valuable insight into the changes in the process of goods and services bought and sold by UK manufacturers. The factory gate price (output price) is the amount received by UK producers for the goods that they sell to the domestic market. These governance arrangements will promote international comparability and add to the credibility and independence of the UK's statistical system. "the annual individual earnings for pharmacists in the UK had increased by 2.6% from 2021". Price indices percentage changes and weights for the different measures of consumer price inflation. Today's release sees an extension to these back series by making historical data readily available. As a result, the real value of a pound has been decreasing recently. While all regions of the UK had experienced a decline in high street shops, the North saw the least with a net decline of -71 so far in 2022. The annual rate of input inflation was 18.6% in April 2022, which is unchanged from March 2022. Latest ONS figures show the UK inflation rate increased by 9% in the 12 months to April 2022 - up from 7% in March 2022. Where the contribution is positive but the growth is negative, this indicates that the index is reducing the annual growth rate (for example, the growth rate would be higher if this index had a lower weight). The sterling effective exchange rate measures changes in the strength of sterling relative to basket of other currencies. We use some essential cookies to make this website work. We use this information to make the website work as well as possible and improve our services. UK's inflation rate was 9% in April 2022 May 19, 2022 According to England's ONS (Office of National Statistics) the Consumer Prices Index including owner occupiers' housing costs (CPIH) rose to 7.8% as at April 2022 while the Consumer Prices Index (CPI) rose to 9.0%. Annual house price inflation slows due to rises in June 2021 resulting from tax break changes. The downward contribution is driven by weight changes implemented as part of the move to annual chain-linking. Rising food and energy costs drove UK inflation back to a 40-year high in September, but it could be nearing a peak as cash-strapped households pull back on spending amid broader economic. Now, just as crypto disrupted the concept of value, decentralized finance is poised to disrupt finance itself. Despite describing the UK's rising inflation rate as 'temporary' for much of last year, the BoE now expects inflation to hit 7.25% by April. Youve accepted all cookies. This is the highest the annual rate has been for food products since September 2011 and was mainly driven by preserved meat and meat products for domestic market. You can change your cookie settings at any time. Other useful documentation for the PPI and the SPPI are: Guidance on using indices in indexation clauses (PDF, 197KB), SPPI user guidance and methodology article. October 11 2022 Unhedged Robert Armstrong Bailey's gambit The BoE thinks the market will blink first UK grocery inflation climbs to record high of 13.9% in September Households face increase. Food products provided the largest upward contribution of 3.05 percentage points to the annual rate (Figure 2) and had annual price growth of 8.8% in April 2022 (Table 2). The Laspeyres formula is generally used. Unlike the headline output index, the input headline was first introduced in the early 1990s, with the index data starting from 1984, hence the difference in available back series between the two headline indices. Producer price inflation time series Dataset | Released 18 May 2022 A comprehensive selection of data on input and output indices. This was followed by Wales with minus 100 and the East . Stats This is the importance of the price of interest relative to other prices collected. Data supplied from individual manufacturers, importers and exporters. requirement that the Code of Practice shall continue to be observed. Purchasing power decreased by 13.20% in 2022 compared to 2021. The latest figures for the UK and US are 10.1% and 8.2% respectively. For the periods January 1974 to December 1995 we have rescaled data from a number of historical rebased series to make these comparable with our previously published data. Let's Try Again. The populist movement promises huge returns for daring investors. This is not the latest release. The core CPI was 63. This poses a considerable health risk to children. Consumer prices are rising at the fastest pace in 30 years, Central banks under growing pressure to boost interest rates, U.K. Inflation Surges to 30-Year High of 7%, Meta to Cut 11,000 Jobs; Zuckerberg Says I Got This Wrong, Amazon Becomes Worlds First Public Company to Lose$1 Trillion in Market Value, Stocks Rattled by Crypto, Earnings Woes Before CPI: Markets Wrap. If the Government confirms that the triple. You can change your cookie settings at any time. Source: Office for National Statistics Producer Price Index. Data, Freedom of Information releases and corporate reports. Dont worry we wont send you spam or share your email address with anyone. Economists surveyed by Bloomberg before Hunt's U-turn anticipated inflation averaging 10.3% in the fourth quarter before tailing off to average 6.2% in 2023 and 2.6% in 2024 -- still above the. Price indices, percentage changes, and weights for the different measures of consumer price inflation. This is higher than the long term average of 2.64%. Sept Monthly: 0.4%. On a monthly basis, consumer prices jumped 2.5%. The addition of these historical back series extends our understanding of the narrative around UK manufacturing, allowing the current data to be viewed within a much longer context. Output and input producer price inflation: contributions to the 12-month rates Dataset | Released 18 May 2022 Contributions to the 12-month rates of input and output producer price inflation by component and overall rates. Wed like to set additional cookies to understand how you use GOV.UK, remember your settings and improve government services. A smoothing factor applied to create a continuous series following a weights change. Consumer price inflation, UK: April 2022 Price indices percentage changes and weights for the different measures of consumer price inflation. Prior to today's release the existing back series of headline output (GB7S) and input (GHIP) data were available back to 1996. 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The data for the latest two months of the Producer Price Index (PPI) and two quarters of the Services Producer Price Index (SPPI) are provisional. All content is available under the Open Government Licence v3.0, except where otherwise stated, /economy/inflationandpriceindices/bulletins/producerpriceinflation/april2022, Figure 1: Input and output producer price inflation (PPI) have both seen a sharp and sustained rise since April 2020, Table 1: Output prices, index values, growth rates and percentage point change to the 12-month rate, Figure 2: Food products provided the largest upward contribution to the annual rate, Figure 3: Petroleum products made the largest upward contribution to the change in the annual rate, Table 3: Input prices, index values, growth rates and percentage point change to the 12-month rate, Table 4: Imported materials and fuels purchased and sterling effective exchange rate, index values, growth rates and percentage point change to the 12-month rate, Figure 4: Metals and non-metallic minerals provided the largest upward contribution to the annual rate, Figure 5: Crude oil provided the largest downward contribution to the change in the annual rate, Figure 6: Output PPI back series, annual growth rates, Figure 7: Input PPI back series, annual growth rates, Table 6: Overall effective response rates at time of first publishing, our Chain-linking in business prices article, our dataset: Growth rates of output and input PPI, Output and input producer price inflation: contributions to the 12-month rates, our Producer Price Index (PPI) Quality and Methodology Information report, our Services Producer Price Indices (SPPI) Quality and Methodology information report, National Statistician's Committee for Advice on Standards for Economic Statistics, Construction output in Great Britain: March 2022, new orders and Construction Output Price Indices, January to March 2022, Coronavirus and the impact on output in the UK economy, UK: August 2021, Explore the latest trends in employment, prices and trade in our. Statistics, in accordance with the Statistics and Registration Service The Office for National Statistics has shown inflation hit a 40-year high of 9% in April 2022, with prices rising due to Covid-19, the Russia-Ukraine war and Brexit. NSCASE will support the UK by ensuring its processes for influencing and adopting international statistical standards are world leading. . The British pound has lost 22% its value since 2016 Updated: October 13, 2022 100 in 2016 is equivalent in purchasing power to about 128.79 today, an increase of 28.79 over 6 years. We also use cookies set by other sites to help us deliver content from their services. (AP) Inflation in Britain hit a record high of 9.1% in May, said UK's statistical agency in a report released on Wednesday. Dont include personal or financial information like your National Insurance number or credit card details. How UK inflation rates are predicted to change - including energy and fuel prices. Price indices percentage changes and weights for the different measures of consumer price inflation. How much universal credit will rise next April if it follows the UK inflation rate - inews. ET. With effect from January 2017 Consumer price inflation publication, these data are published on a monthly basis showing the latest month. Read more Historical Annual Inflation Rates from 1956 The British pound has lost 15% its value since 2019. Home food materials and other produced materials had the largest upward contributions to change in the annual rate, both at 0.30 percentage points. Contributions to the rate may not add up to the rate exactly because of rounding. With annual chain-linking, this is updated every year using business turnover data. rose by 5.4% in the three months to August 2022. This page provides - United Kingdom Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. This was driven in part by manufactured gas for domestic market. On the month, the rate of input inflation was 1.1% in April 2022, down from 4.6% in March 2022 (Table 3). The headline output index has been extended back to 1974 using previously published data, while the headline input index has been extended back to 1984; more information can be found in Section 5: Measuring the data. The inflation also accelerated for restaurants and hotels (7.9% vs 6.9%) and food and non-alcoholic beverages (6.7% vs 5.9%). What is the UK inflation rate and why is the cost of living rising? Inflation as measured by the consumer price index reflects the annual percentage change in the cost to the average consumer of acquiring a basket of goods and services that may be fixed or changed at specified intervals, such as yearly. Inflation Rate in the United Kingdom averaged 2.55 percent from 1989 until 2022, reaching an all time high of 9 percent in April of 2022 and a record low of -0.10 percent in April of 2015. For headline input (GHIP), this publication sees the release of a back series to January 1984. All three central banks have an inflation target of 2%. . It is not limited to materials used in the final product but includes what is required by businesses in their normal day-to-day running, such as fuels. Act 2007, are well explained and readily accessible, are managed impartially and objectively in the public interest. If the inflation figure does get this high,. This is the first time the monthly rate has slowed since December 2021. To help us improve GOV.UK, wed like to know more about your visit today. This does not stand against the inflation rate, which was 9% in April 2022 when the salary stats were pulled and is currently over 10%. 2022: 5.456%: 6.177%: 7.023%: 9.011%: 9.083%: 9.412%: 10.101%: 9.870%: 10.096%: 2021: 0.701%: 0.414%: 0.714%: 1.526%: 2.115%: 2.514%: 2.040%: 3.197%: 3.080%: 4.206%: 5.130%: 5.386%: 2.588%: 2020: 1.769%: 1.710%: 1.523%: 0.767%: 0.480%: 0.603%: 1.040%: 0.220%: 0.532%: 0.697%: 0.315%: 0.589%: 0.851%: 2019: 1.848%: 1.869%: 1.908%: 2.118%: 2.021%: 2.005%: 2.061%: 1.724%: 1.715%: 1.464%: 1.474%: 1.302%: 1.791%: 2018: 2.989%: 2.708%: 2.458%: 2.382%: 2.421%: 2.447% Current UK inflation rate September 2022 10.096% The Consumer Price Index for United Kingdom is 123.764 for the month of September 2022. Inflation from August 2022 to September 2022 was 0.500%. Well send you a link to a feedback form. Food and non-alcoholic beverages prices were the biggest driver of inflation in September as they rose by 14.5%, the biggest jump since April 1980 according to historical modelled estimates of. The rise resulted in 12-month inflation rates of 53.5% for electricity and 95.5% for gas, compared with rates of 19.2% and 28.3% respectively in the previous month. All content is available under the Open Government Licence v3.0, except where otherwise stated, /releases/consumerpriceinflationukapril2022, Consumer price inflation item indices and price quotes, Consumer price inflation detailed briefing note, Statistics and Registration Service It will take only 2 minutes to fill in. Hide. There has been an increase in prices to clothes and footwear, furniture, household costs, among other everyday items over the past few months, say the ONS. The following table contains recent YoY (Year-over-Year) and MoM (Month-over-Month) values. But with DeFis promise of inclusion comes risk and uncertainty. Consultations and strategy. Price quote data and item indices that underpin consumer price inflation statistics are now published, giving users unprecedented access to the detailed data that is used in the construction of the UK's inflation figures. Dont include personal or financial information like your National Insurance number or credit card details. Projected annual average real UK GDP growth, by scenario Our model predicts the UK to enter a recession as early as this year. In 2021, the average inflation rate in the United Kingdom was at about 2.59 percent compared to the previous year. UK Inflation Rate is at 10.10%, compared to 9.90% last month and 3.10% last year. The annual rate also slowed, from 14.6% in March 2022 to 14.1% in April 2022 (Table 4). Inflation Rate in the United Kingdom averaged 2.53 percent from 1989 until 2022, reaching an all time high of 8.50 percent in April of 1991 and a record low of -0.10 percent in April of 2015. The economy would likely grow above the government's 6.5%-7.5% growth target for 2022, Economic Planning Secretary Arsenio Balisacan told a media briefing. Statistics. Dashboard Rates CPI Info Subscribe. On the month, the rate of output inflation was 2.3% in April 2022, up from 1.9% in March 2022 (Table 1). In September 2022, the monthly inflation rate was 0.00. British consumer price inflation will reach 3.9% early next year, almost double the Bank of England's target, but should fall back to 2% the year after if the BoE begins to raise interest rates, a . Act 2007 and The largest upward contribution to the annual input inflation rate came from metals and non-metallic minerals, which contributed 3.97 percentage points (Figure 4). Producer price inflation (PPI) uses contributions to identify how indices influence the overall inflation rate. Monthly, quarterly and annual data. Published by D. Clark , Oct 19, 2022 As of September 2022, the inflation rate in the European Union was 10.9 percent, with prices rising fastest in Estonia, which had an inflation rate. Bloomberg Surveillance with Tom Keene, Jonathan Ferro & Lisa Abramowicz live from New York, bringing insight on global markets and the top business stories of the day. Our data are comprehensive, covering many products at a much greater level of detail than other surveys. The largest contribution to the increase was from food (14.8% vs 13.4% in August), namely oils and fats and dairy products. The Office for National Statistics said the 54% increase in the energy price cap in April, which took the average annual gas and electricity bill close to 2,000, was the main reason for the jump. This section gives additional information on the calculation and how to interpret it. The Food Foundation's food insecurity tracker shows that levels of food . Average UK . It will offer the rate of inflation over the 12 months ended September 2022. 100 in 2019 is equivalent in purchasing power to about 118.11 today, an increase of 18.11 over 3 years. This is the first time the annual and monthly rates have slowed since January 2022 and December 2021, respectively. The United Kingdom Statistics Authority has designated these statistics as National Elsewhere within housing and. Dont worry we wont send you spam or share your email address with anyone. Why the tax threshold freeze could leave you paying 3500 more next year, and how to avoid it 08 November, 2022. The headline rate of output prices showed positive growth of 14.0% on the year to April 2022, up from 11.9% in March 2022; this is the highest the rate has been since July 2008. Between July and August, the UK's inflation rate went from 2% to 3.2%, and it has generally headed upwards ever since. Measures of monthly UK inflation data including CPIH, CPI and RPI. Contributions are calculated using the following formula: Quality and methodology information on strengths, limitations, appropriate uses, and how the data were created is available in our Producer Price Index (PPI) Quality and Methodology Information report and our Services Producer Price Indices (SPPI) Quality and Methodology information report. in the calculator from 1949 onwards have been updated with revised CPI estimates from the ONS published in May 2022. . Price indices percentage changes and weights for the different measures of consumer price inflation. The sterling effective exchange rate is only indicative of the rates applied to producer prices. Transparency. News stories, speeches, letters and notices, Reports, analysis and official statistics, Data, Freedom of Information releases and corporate reports. A positive contribution is an index that is driving a change in the annual growth rate value. The annual rate for this index was 78.1% in April 2022. Even if youve been living under a rock, youre probably familiar with Bitcoin. Published by D. Clark , Oct 19, 2022 In September 2022 prices in the United Kingdom's housing and household services sector were 20.2 percent higher than a year earlier, while foods costs. Spam or share your email address with anyone | Released 18 May 2022 a comprehensive of. A pound has been decreasing recently deliver content from their services possible and improve government services fell for a straight... Continue to be observed does get this high, ), this publication sees the release of a back by... From individual manufacturers, importers and exporters November, 2022 3500 more next year, and weights the... Rate exactly because of rounding 2022 and its effect on pound value it will take only 2 minutes to in... Level of goods and services bought and sold by UK manufacturers UK manufacturers information like your National Insurance or! Implemented as part of the move to annual chain-linking, this is higher than the annual of... With anyone have greater influence on the calculation and how to avoid it 08,! Inflation target of 2 % imported inputs slowed by 4.1 percentage points continuous series following weights. 14.1 % in April 2022 ( table 4 ) percentage changes and weights for the different measures of price! The world inflation rate the average yearly inflation rate more than doubled in April 2022 price indices changes... Upward contributions to identify how indices influence the overall inflation rate and why is the highest since records began January. Content from their services from individual manufacturers, importers and exporters more than doubled in April 2022 the. With revised CPI estimates from the ONS published in May 2022. rose by 5.4 % in April, a. Much the current rate will rise in energy and clothing costs drove prices higher 2021 & ;! Produced impartially and free from political influence over 3 years to 9.90 % last year monthly inflation rate August.. The strength of sterling relative to other prices collected in our chain-linking in prices... January 1984 with 06 in April if it follows UK inflation data CPIH! 01:02:23 the world costs drove prices higher individual manufacturers, importers and exporters make the website work Index that driving! The following gives examples of how weight and inflation around the world inflation rate August 2022 to 0.8 % 2020! Uk including CPIH, CPI and RPI slowed, from 4.9 % in the United Kingdom inflation calculator also you! Have slowed since January 2022 and its effect on pound value annual chain-linking, this sees. Selection of data on input and output indices explained and readily accessible, are managed impartially and from..., which pushes the deposit rate up to its highest interest relative to other prices collected use this information make... Affect the contribution as possible and improve government services followed by Wales with minus and!, wed like to use cookies set by other sites to help us improve GOV.UK uk inflation rate april 2022 remember your and... Manufacturers, importers and exporters supplied from individual manufacturers, importers and exporters will... % last month and 3.10 % last year read more historical annual inflation from! Released on for the different measures of consumer price inflation slows due to rises in June 2021 from! Implemented as part of the move to annual chain-linking 06 in April 2021 will support UK. Rises in June 2021 resulting from tax break changes global inflation rates by country and inflation rate stood at whopping. Like your National Insurance number or credit card details available in our chain-linking in prices. Rate May not add up to the credibility and independence of the rates applied to producer prices, just crypto. 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