European markets were on course for a slightly higher open Tuesday after thin trading on Monday.
U.K. shop price inflation in May reached the highest level since records began in 2005, according to snapshot figures from the British Retail Consortium.
Supermarket and retail chain price inflation was 9% year on year, up from 8.8% in April. Food price inflation came down slightly, from 15.7% to 15.4%. BRC chief executive Helen Dickinson said lower energy and commodity prices were starting to be felt in food staples.the prime minister and finance minister were meeting food sector representatives to see what could be done about the cost-of-living pressure on consumers, but stressed they were not looking to impose any compulsory price caps.
Headline consumer price inflation was 8.7% in April, the joint highest in the Group of Seven developed economies alongside Italy.European markets are set for marginal gains at Tuesday's open.Germany's
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