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Weekly Market Wrap | 3 June 2023
By Syfe  •  June 3, 2023
#EuropeInflation #DebtCeiling #AlibabaChatBot

Topic #1: Inflation in Europe drops to lowest level since February 2022

Inflation rates in Europe (Source: TRADINGECONOMICS.COM)

What happened?

Inflation in Europe has reached its slowest pace since the Russian invasion of Ukraine. According to the initial estimate from the European Union’s statistics agency, consumer prices in the eurozone rose 6.1% last month, down from 7% in April. This marks the lowest inflation rate since February 2022, when Russia’s invasion caused a surge in global energy prices. In May, the rate of food price increases continued to ease for the second consecutive month, and energy prices actually fell. Core inflation, which excludes food and energy, reached a four-month low of 5.3%. Germany, France, Italy, and Spain all experienced a decline in inflation, as indicated by national data published on Wednesday.  While the ECB, along with the US Federal Reserve and Bank of England, targets...
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By Syfe
Syfe is a digital investment platform that is building the next generation of financial solutions for individuals across Asia ...
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