“Core” CPI, which does not include food and energy, was rising at a 5.5% year-on-year rate in June, up from 5.3% in May. While energy prices coming down slightly has reduced the overall consumer price index increase, the CPI for services, which had been growing in the range of 1 to 2% over the six years preceding Covid, has now reached nearly 5.5%. The Core CPI had been growing at around 1% annually before Covid, and is now over 5%.
Inflation Up in Europe
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