Central banks in Europe, the US and the UK are expected to keep raising interest rates until inflation is down to a 2% target, considered best for the economy. The eurozone annual inflation rate dropped slightly to 5.5% in June, down from 6.1% the month before, Energy prices dropped 5.6% after last year’s crisis, while food price inflation was up 11.7%, easing from 12.5% in May. Russia’s invasion of Ukraine and its many repercussions came last year on the heels of the COVID-19 pandemic, raising food and energy prices and leading to fears of recession. Do you think that economies are slowly returning to normal?
