Europe inflation slips to 5.5% — but that won’t stop central bank rate hikes

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Inflation in Europe slid again in June but fell too slowly to offer much relief to shoppers grumbling over price
tags. Correspondent Jeremy House has more on the story.

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VERBATIM: The dip in inflation also won’t stop more interest rate hikes that will raise the cost of borrowing across the economy. The European Union statistics agency says the annual rate of 5.5% is down from 6.1% in May in the 20 countries that use the euro currency. While that’s a big drop from the peak of 10.6% in October, persistently high prices in the U.S., Europe and the United Kingdom pushed some of the world’s top central bankers to make clear they are going to keep raising rates and leave them there until inflation drops to their 2% goal…std.