EU increases growth forecast for 2021, says eurozone economy will expand by 5%

The EU predicts that inflation in the bloc will peak at 2.6 percent this year, with levels easing further in 2022 and 2023. Meanwhile in the US, the cost of living is rising faster than it has in 31 years. And British luxury brand Burberry says its revenues returned to pre-pandemic levels during the first half of its financial year.

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