A key measure of inflation has fallen below the Bank of England’s target rate of 2% for the first time since 2007. Lower food prices caused the Consumer Prices Index (CPI) to drop to an annual rate of 1.8% in June from 2.2% in May, official statistics showed.
German investor confidence unexpectedly declined to 39.5 in July from 44.8 in June., suggesting the recovery in Europe’s largest economy may take longer to materialize. German government says GDP will plunge 6% this year, most since World War II, even as the economy shows signs of stabilizing
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