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mpc: 24 If the recent rise in the gas price were to be short-lived, it was unlikely to have a material effect on the outlook for either economic activity or inflation. But a sustained increase in the gas price could lead to shutdowns among heavy industrial users ­ these users accounted for only a relatively small proportion of UK GDP. In addition, if high gas prices were sustained, they could be passed on through the supply chain, and so affect consumer price inflation.

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