See however this graph which suggests that average hourly wages play a key role – as long as the Euro does not depreciate while Eurozone wage increases are as low as they are and productivity keeps increasing as fast as it does (+1%, year on year) Eurozone inflation will be below the ECB target for a long time to come, barring things like a Crimean War II.Isn't that the neoliberal paradigm under austerity?
Real-World Economics Review Blog
Mapping inflation – estimating the direction of a cloud of a myriad of individual prices
Merijn Knibbe
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