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.
In the Eurozone, the HICP (Harmonised Index of Consumer Prices) rose by 2.5% in June 2024 (annual change), a level that has been broadly stable since January. In the food sector in particular, inflation has been below 2% for the past 2 months. However, this reading, in terms of annual change, should be taken with a grain of salt, given the high levels of previous years.
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Article authors
Sophie Baqué
Chief Editor of mind Retail