However the report said that increased competition had brought down the cost of fixed line telephone costs while lower servicing charges and tyre costs had reduced the cost of car upkeep.

BBC: UK spending power 'in heavy fall'

Not only is that real estate a great inflation hedge, it gives the company total control over both the upkeep of stores and occupancy costs.

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The Georgetown factory was able to mothball one of its three painting booths, saving energy and upkeep costs.

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