Europe’s Inflation Crisis Spirals Into Double-Digits
In news that's every bit as disconcerting as it is unsurprising, inflation in the eurozone reached double-digits in September. Consumer prices probably rose 10% this month (figure below), data out Friday showed. It was another record and marked the fifth consecutive month that consumer price growth exceeded economists' forecasts. Core prices rose 4.8%, also a record. On a monthly basis, headline price growth was 1.2%. Core prices rose 1% from August. Neither of those prints are good news.
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And c’est la guerre.