Europe
Food prices have likely entered a higher ‘new normal’
World food prices continued to ease in June, led by cereal and meat, although remain far above 2013-18 levels
InternationalNorth Macedonia’s government may fail to keep promises
The incoming nationalist-led cabinet announced major economic and rule of law reforms
North MacedoniaUK Labour Party will struggle to maintain support
The Labour Party is highly likely to return to power for the first time in 14 years
United KingdomWorld trade rebound will remain milder than past rates
World trade volumes grew by about 2% in the first half of the year
InternationalRussia willing to extend Ukraine gas transit deal
Russia is prepared to continue supplying gas to Europe via Ukraine after the current transit agreement ends in late 2024
UkraineHistory will weigh on Polish-German relations
Polish demands for Germany to pay reparations for the Second World War remain a sticking point in bilateral relations
PolandFrance will drag down euro-area growth this year
France’s services PMI contracted for a second month but the euro-area measure was more positive
EUModest rise in exports to EU will not help Gazprom
Gazprom’s exports to Europe registered a slight increase in the first half of the year
Russia
