International Economic Week in Review: England May Have an Inflation Problem

            In general, the good news continues.  The EU economy has now been reporting positive news for over a year.  Japanese and Australian indicators also paint a positive picture.  The UK, however, may have problem.  CPI was 3.1%, which the BOE attributed to a weak sterling.  However, granular CPI data in this week’s report showed price increases in a variety of sub-categories.  It’s difficult to attribute the breadth of the increases to a weaker currency.