BOC Governor Macklem said weak economic activity alongside rising inf presents a dilemma for monetary policy.

A European Commission document says the EU Emissions Trading System (EU ETS) review will expand coverage to include a portion of emissions from international flights.

May US CPI rose 4.2% YoY, the fastest since April 2023, marking the second consecutive month inflation has outpaced wage growth. May average hourly earnings rose 3.4% YoY; real wages fell 0.7% YoY and 0.1% MoM. Energy prices jumped 23.5% YoY, the largest increase since Aug 2022, with natural gas up 40.5% YoY and 7.0% MoM. Food prices rose 0.2% MoM, below the prior 0.5%. Bankrate senior economic analyst Mark Hamrick expects Middle East supply‑chain disruptions will keep inflation elevated in the near term; a ZipRecruiter economist said wages lagging inflation are squeezing middle‑income households.