The Economist Questions Rationale for ECB Inflation Focus

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The Economist provides an interactive graph of emerging market economies. Some are hot, and at risk of inflation, but many are cooling down. This will bring down commodity prices and reduce the risk of inflation. The Economist does not understand why the European Central Bank is preparing to raise interest rates because of a perceived threat of inflation. This is especially true in the case of euro zone economies like Spain, Portugal and Ireland which have growing unemployment problems.