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Decline of the Dollar: Inflation at record highs — in Germany!

Posted November 27, 2007

“The Federal Statistics Department in Germany just released that based on preliminary numbers, November inflation over the previous month is up 3% — far higher than estimated.” — J. Christoph Amberger

by J. Christoph Amberger, TFNBaltimore — (TFN): The pundits are restless… seeing conspiracies in every inflation report the Federal Reserve releases. Sure, in a consumer-based economy with a voracious appetite for expensive foreign imports and soaring commodities prices, inflation — and at its core, the low dollar conversion rate! — is a concern.

And inflation is up. Oddly enough, not necessarily in the States (although our friend Peter Schiff will no doubt correct me on that next Thursday!), where price increases based on inopportune exchange rates are frequently neutralized by exporters and manufacturers concerned about maintaining their hard-fought market share. But in Europe… which based on the strong euro should be bargain bonanza paradise.

But the Federal Statistics Department in Germany just released that based on preliminary numbers, November inflation over the previous month is up 3% — far higher than estimated.

The reason for the increase were increased cost for heating oil, gasoline, and diesel, as well as milk and bread.

The European Central Bank tends to consider price stability endangered at an inflation rate of 2%.

The products that beat inflation were those typically made in China… television sets, DVD players and computers.

Click here for the original (German) article.

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Posted by J. Christoph Amberger · Filed Under News that Matters 

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