Inflation in Europe slowed for the second straight month in June
Consumer prices in the 20 countries that use the euro rose 5.5% this month compared with a year ago, according to an estimate released by the European Union’s statistics agency Friday. That’s down from 6.1% in May. Economists polled by Reuters had expected slightly higher inflation of 5.6% this month. However, core inflation — which strips out volatile food and energy prices — edged up.
High supermarket prices for staple products have led to accusations of profiteering among food producers and retailers. Sweden’s competition watchdog said Tuesday that the sticker price of eggs had risen by “more than what can be justified” by retailers’ costs, though it added that firm conclusions could not be drawn while its investigation was at an early stage.
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