Don’t Say I Didn’t Tell You!

Inflation in the eurozone is not about to spiral out of control. I have been arguing this for months now. The latest piece of evidence: French consumer prices fell 0.3 percent in November as compared with the previous month:

French consumer prices fell 0.3 percent in November on the previous month, national statistics office INSEE reported on Tuesday. That brought the annual rate of inflation down to 1.8 percent from 2.0 percent in October. The drop in consumer prices was largely driven by a 2.8 percent fall in energy prices, with petrol products down 5.1 percent.