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inflationistas
There's an incredible lack of inflation in eurozone... and the world right now
Despite the perception that central banks are pumping money frantically, inflation rate debunks this.
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FOLKS WHO CONTINUE to expect inflation to pop up around every corner continue to be… wrong.
There’s basically none. Anywhere.
Here’s the latest from Eurostat.
“Euro area annual inflation is expected to be 1.1% in September 2013, down from 1.3% in August, according to a flash estimate from Eurostat, the statistical office of the European Union.
Looking at the main components of euro area inflation, food, alcohol & tobacco is expected to have the highest annual rate in September (2.6%, compared with 3.2% in August), followed by services (1.5%, compared with 1.4% in August), non-energy industrial goods (0.3%, compared with 0.4% in August), and energy (-0.9%, compared with -0.3% in August).”
Cullen Roche points out that it’s the same story everywhere. Japan, the US, the UK, etc. Inflation is incredibly subdued despite what you hear about central banks pumping money like crazy.
All that being said, the hardcore inflationistas have long been discredited.
Now the folks at risk of looking silliest are the people who were convinced that the central banks could stoke inflation if they wanted to. They’re on the verge of being discredited as well.
- Joe Weisenthal
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