Posted on 01/04/2011 9:33:37 AM PST by Nachum
PARIS — Higher prices for food, oil and other commodities are starting to stoke inflation in the euro area, data released Tuesday indicated, while British residents got their first taste of higher taxes on retail goods and services. Annual inflation in the euro area jumped to 2.2 percent in December from 1.9 percent in November, according to an initial estimate from Eurostat, the European Union’s statistics agency.
(Excerpt) Read more at nytimes.com ...
>Higher prices for food, oil and other commodities are starting to stoke inflation in the euro area,
Sorry but higher prices do not “stoke” inflation.
They are the *symptoms* of inflation which is defined as an increase in the monetary supply.
You would think that the geniuses at the NYT would at least have that right by now...
Nothing to see here, move along. Food and energy prices are not included in the inflation figures.
When you rely on economic einsteins the likes of Paul Krugman you'll print anything.
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