Disastrous Inflation Overshadows Stale European Growth Surprise
Inflation in Europe rose more than expected in July, preliminary data out Friday showed.
It was an unwelcome development for the ECB -- the latest inauspicious turn in a never-ending series of unfortunate events. The sheer quantum of bad news foisted upon Europeans in 2022 is lamentable.
Headline inflation probably rose a sweltering 8.9% this month (figure below), the flash estimate from Eurostat showed. That was more than expected and marked another record high.
Core was 4%, also a record
It is hard to see how Europe, in particular Germany, doesn’t have a significant or worse recession. US companies with export revenue may get the double whammy of FX losses and lower demand.
It may well be Time for the so called World Leaders to get with the program and make believe there is a Solution to at least some of the Issues that seem obvious to their respective Electorates . Unfortunately , they would all have to Liberate what used to be a Free Press and drop the Hubris , Propaganda and other Power plays. Options are getting slimmer as we speak ..
WTF ? Are you confused.