Make faster progress than unfashionable people (7)

I believe the answer is:

outrace

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'make faster progress than' is the definition.
I can't tell whether this defines the answer.

'unfashionable people' is the wordplay.
'unfashionable' becomes 'out' (similar in meaning).
'people' becomes 'race' (people can mean a national group or race).
'out'+'race'='OUTRACE'

Can you help me to learn more?

I've seen this clue in The Guardian.

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