Austerity vs Stimulus by Robert Skidelsky & Nicolò Fraccaroli

Author:Robert Skidelsky & Nicolò Fraccaroli
Language: eng
Format: epub
Publisher: Springer International Publishing, Cham

Focusing on whether the inflation rate is just above or below 0% is beyond the point, though: the fact of the matter is that the euro area’s average inflation rate—notwithstanding the huge inflation differentials between countries—has been below the ECB’s target of 2% since late 2012, and below 1.5%—which essentially amounts to deflation, according to a generally accepted guideline—since the beginning of 2013. That is, for almost three consecutive years (Fig. 2).

Fig. 2EU inflation rate.

Source Tradingeconomics​.​com. Data: Eurostat

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