Hungary's prime minister said the Paks nuclear power plant may begin restarting six idled turbines from Sunday.

McKinsey’s head of UK consumer business Bogdan Toma said UK food and beverage inflation has fallen to 1.3%, the weakest in about five years, a level he views as unsustainable for retailers operating on low-single-digit margins. He said retailers are absorbing a large share of rising costs amid weak consumer demand and price flattening, compressing margins and creating mounting tensions that need to be resolved. Toma added that hot weather and supply-chain disruptions for many farm products could put upward pressure on food prices this autumn.

The Philippine peso weakened 0.3% to 61.952 per US dollar, hitting a record low.