Word: inflationitis
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That lament is sung across Europe. Far from enjoying the economic recovery, millions of working people are feeling squeezed, and their disgruntlement is becoming the hottest social and political issue of the day. Asked to name their biggest worries in a Novatris/Harris poll last month, French, Germans and Italians all...
That sort of talk gives heartburn to E.U. officials and statisticians across Europe because they say it's largely unfounded. Indeed, since 2002, inflation has been rising faster in Britain, which kept its own currency, than in countries that switched to the euro. True, the cost of some everyday items...
One fundamental flaw in the argument of those who believe the euro pushed up inflation significantly is that there's almost no supporting evidence. Italy provides a good example because, in 1993, it experienced a sharp deterioration in household income following a massive lira devaluation. Tens of thousands of people...
So far, such reasoned and academic arguments have largely failed to filter into the mainstream public debate. But in the world of statisticians, there is some introspection taking place. "Perhaps the communication of statistics was too focused on averages and not enough on variants," Giovannini says. That's a statistician...
1,594% Estimated annual inflation rate in trouble-racked Zimbabwe in January--the highest in the world