France's June CPI came in at 1.8% year-on-year, below the ECB's 2% target, while Italy's held at 3.0%. The 120 basis-point spread is the sharpest test of the ECB's one-size-fits-all mandate as the Sintra forum opens.
German retail sales rebounded 1.1% month-on-month in May, a sharp turnaround that points to strengthening consumer demand in Europe's largest economy even as French inflation eased. Source
