‘My Wallet Shrivels Just Writing This’: Euro CPI Shocker Elicits Incredulity

"That's a big number." "Those are pretty ugly prints." Those (real) quotes give you a sense of the knee-jerk reaction to the preliminary read on Eurozone inflation for March. An alarming headline print was a foregone conclusion given the surge in energy prices, but as was the case with eye-watering regional numbers out earlier this week, economists generally failed to anticipate the sheer scope of the surge. Annual inflation in the euro-area likely jumped 7.5% last month, Eurostat said Friday

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