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Diverging Inflation Numbers, For How Much Longer?

Jeffrey Snider profile picture
Jeffrey Snider


  • Germany’s flash July 2021 inflation estimate came in hot yesterday, boosted mostly by comparisons to July 2020’s VAT-free situation.
  • Despite Deutschland’s oversized contribution and influence, Eurostat reports today how for Europe as a whole there was a whole lot of little inflation in July.
  • The near entirety of the global economy is in truly poor shape, a fact that is – for Americans – obscured by their own CPI’s and each’s narrowly-driven results drawn from the narrowness of the goods sector.

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Germany’s flash July 2021 inflation estimate came in hot yesterday, boosted mostly by comparisons to July 2020’s VAT-free situation. That country’s CPI is a robust sounding 3.8% year-over-year this month, though only 3.1% in its flash HICP terms.

This article was written by

Jeffrey Snider profile picture
As Head of Global Investment Research for Alhambra Investment Partners, Jeff spearheads the investment research efforts while providing close contact to Alhambra’s client base. Jeff joined Atlantic Capital Management, Inc., in Buffalo, NY, as an intern while completing studies at Canisius College. After graduating in 1996 with a Bachelor’s degree in Finance, Jeff took over the operations of that firm while adding to the portfolio management and stock research process. In 2000, Jeff moved to West Palm Beach to join Tom Nolan with Atlantic Capital Management of Florida, Inc. During the early part of the 2000′s he began to develop the research capability that ACM is known for. As part of the portfolio management team, Jeff was an integral part in growing ACM and building the comprehensive research/management services, and then turning that investment research into outstanding investment performance. As part of that research effort, Jeff authored and published numerous in-depth investment reports that ran contrary to established opinion. In the nearly year and a half run-up to the panic in 2008, Jeff analyzed and reported on the deteriorating state of the economy and markets. In early 2009, while conventional wisdom focused on near-perpetual gloom, his next series of reports provided insight into the formative ending process of the economic contraction and a comprehensive review of factors that were leading to the market’s resurrection. In 2012, after the merger between ACM and Alhambra Investment Partners, Jeff came on board Alhambra as Head of Global Investment Research. Currently, Jeff is published nationally at RealClearMarkets, ZeroHedge, Minyanville and Yahoo!Finance. Jeff holds a FINRA Series 65 Investment Advisor License.

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Comments (3)

Could it be that China's actions will further affect Europe, who depends on China for so much trade.
Article lacks direction, says a lot without summarizing the "so what". Terribly written.
Rigorous profile picture
@gerald325i The economy isn't good.
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