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Fed and ECB Smokescreens to Print Money


Fresh on the heels of ECB president Mario Draghi's Lies In Defense Bond Purchases, Including a Warning of Deflation [below] comes news of an unexpected rise in Eurozone price inflation.

Economists had expected price inflation to drop. Instead, Eurostat reports Euro area inflation estimated at 2.7%, up from 2.6% in August.

Looking at the main components of euro area inflation, energy (9.2% compared with 8.9% in August) is expected to have the highest annual rate in September, followed by food, alcohol & tobacco (2.9% compared with 3.0%), services (2.0% compared with 1.8%) and non-energy industrial goods (0.8% compared with 1.1%).

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