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Denmark’s July inflation slowed to 1.7% as consumer price growth eased from June. The consumer price index for July reached 102.92, with 2025 designated as the base year with an index value of 100. The monthly increase was partly due to holiday home rentals and package holidays, which together added 1.24 percentage points. Food prices contributed an additional 0.15 percentage point. Leading sectors in yearly inflation include restaurants and transportation Prices at restaurants and hotels increased by 8.1% from July 2025, representing the strongest gain among the main CPI categories. Transport costs rose by 5.5%, while prices for information and communication services grew by 4.6%. EU harmonised inflation rate decreases to 1.6% In July, Denmark’s harmonised index of consumer prices (HICP) experienced a 1.6% rise from the same month in the previous year, down from 1.8% in June.

According to a recent analysis by Triodos Bank, Europe’s intense summer heat and drought conditions could lead to a reduction in the EU’s economic output by approximately 1% in 2026. This estimated decline amounts to about €180 billion and closely aligns with the European Commission’s current growth projection for the bloc. In May, the Commission had forecast a 1.1% increase in EU gross domestic product for this year. The comparison underscores the extent of weather-related damage projected in the bank’s findings.

The cost of fresh vegetables has surged in South Korea as ongoing extreme temperatures have led to decreased shipments and harmed agricultural production nationwide. Data from Korea Agro-Fisheries & Food Trade Corp. indicates that on Aug. 7, spinach was priced at 1,978 won per 100 grams, representing a 152.3% increase from the previous month. Ten cucumbers cost 8,313 won, which is a 54.8% rise. Additionally, blue lettuce saw a 41.7% increase, and zucchini climbed 46.6% to reach 1,504 won.

The formal accord enlarges the intended satellite network to 348 spacecraft, bolstering sovereign connectivity, defense capabilities, and emergency response across member states. According to the revised agreement, the primary satellite constellation will increase from 282 to 348 orbital units. The upgraded network design incorporates 330 satellites in higher low Earth orbit and 18 in medium Earth orbit, with additional orbital slots reserved for specialized missions. Initial satellite launches are scheduled for 2029, enabling participating member states to access early sovereign connectivity shortly after.

In June, South Korea achieved a historic current account surplus of $49.73 billion, driven predominantly by a significant increase in semiconductor exports. The Bank of Korea announced that this figure surpasses the previous monthly record of $38.61 billion set in May. Notably, June marked the first occasion where the monthly surplus exceeded $40 billion. The primary driver of this growth was robust goods exports, as technology shipments expanded at a pace far faster than imports.

Eurozone manufacturing output accelerated in July while new orders and exports stayed weak. The survey’s output index rose to 52.9 from 51.7, reaching a level not seen since March 2022. Production expanded at a faster rate than overall manufacturing activity, though firms relied heavily on work accumulated in previous months. New orders saw only marginal growth and lagged behind production levels. Export orders declined once more, with declines in France, Spain, Italy, and Austria outweighing gains elsewhere in the currency area. Consequently, July’s increase in production was largely supported by existing order backlogs. Factories worked through unfinished orders at the fastest rate since January, decreasing their backlog of work. This reduction helped sustain overall production, even as incoming new work remained limited.

The European Union has unveiled the Scaleup Europe Fund, with a target of €5 billion dedicated to strategic technology enterprises. The Commission anticipates initial investments in the upcoming weeks, with ongoing efforts to raise additional capital toward reaching the €5 billion goal. The fund targets strategic technology growth across Europe, with an initial commitment of €1 billion from the Commission supported by Horizon Europe. EQT will pursue further commitments from a broader range of investors, with investments of approximately €100 million or more in sectors including artificial intelligence, quantum technology, and biotechnology.

OECD reports easing inflation to 4.2% as energy costs decline PARIS / RankWire.AI / – The inflation rate across OECD countries decreased to 4.2% in June 2026 from 4.6% in May, marking the end of three consecutive months of increases. This indicator measures the yearly change in consumer prices among member nations. In June, inflation dropped in 20 economies, rose in six, and remained largely unchanged in 12. Among the member states, nine OECD countries recorded inflation at or below 2%, including three where the rate was below 1%.

Although the UK economy has avoided slipping into recession, new forecasts indicate increasing pressure from global energy disruptions. EY has upgraded its growth projection for 2026 to 0.9% from 0.8% in May, while maintaining its baseline for 2027 at 1.2%. This forecast presumes that the Strait of Hormuz reopens by September with limited tanker traffic. EY’s more cautious scenario estimates 0.5% growth this year and a 0.2% decline in 2027.

U.S. stocks climbed as Big Tech gains and falling oil prices lifted market sentiment. Technology and communication services stocks largely fueled the advance. Meta Platforms and Alphabet contributed to a 4.3% increase in the S&P 500 communication services sector, making it the top performer among 11 sectors. Amazon’s shares climbed 4.6% after its market capitalization surpassed $3 trillion for the first time following quarterly earnings. An exchange-traded fund tracking seven leading technology firms gained nearly 4%, reflecting strong investor demand for major growth stocks.