The United States reported that just before the weekend began there was finally light at the end. Inflation began to decline.
Friday’s figures showed that consumer price rises eased to 7.7% in Oct. This is an improvement on the previous double-digit inflation mark of a few months back.
However, Europe shows no signs of improvement. It is currently at just below 10% in the United Kingdom, while it is 10.7% in the Eurozone.
While the majority of Britain and the Eurozone were held up for more than a year and half, certain areas of the United States were able to function without such strictures and maintained their productivity. One of these areas was Florida and Texas, both highly urbanized states that have large industrial capacities.
This is certainly one of the factors, but by comparison the Eurozone (and United Kingdom) had their entire economies delayed for a sustained time. Now they are in fiscal crisis with this as a major contributor.
This morning ,…