Even in the digital age where everything is measured, we are powerless to judge the seriousness of inflation.
A rise in prices between 2 and 4% per year is commonly referred to as “creeping inflation”.
Beyond 10%, it is said to be “double digit” (a truism).
Many commentators tax current rates of “galloping inflation” (8.6% in the euro zone and 6.5% in France according to Eurostat) without really knowing what they mean by that.
The less rigorous speak of “hyperinflation”, thinking of Venezuela and Germany in the 1920s. As President of the European Central Bank, Christine Lagarde sticks to predicting
“that inflation will remain excessively high for some time".
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The boss of the ECB could not better express her dismay.
Central banks and governments are indeed faced with a dilemma.
This inflationary drift marked by the seal of uncertainty, is it appropriate above all to mitigate the immediate inconvenience on individuals and…
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