Despite stable inflation, European retail has not recovered in the 1st half of the year

According to Eurostat, inflation in Europe and the U.S.A. levelled out at around 2% year-on-year at the end of June. However, food inflation remains at 26% and 19% respectively, over a rolling 3-year period. Whilst not affecting the U.S.A., price rises are having a major impact on retailers in Germany, and to a lesser extent in France.