Inflation rises unexpectedly | Reuters.
In what possible universe was inflation not "expected" to increase? Are we naieve enough to think that the economic gods would not notice the printing of money unbacked by value? Or that they are so stupid as to be fooled by the euphemism "Quantitative Easing?"
Admittedly the rating agencies seem to have been fooled so far, but the invisible hand tends to put its finger on the truth rather sooner than them.
Or perhaps we simply assert, with Merkel-like arrogance, the primacy of politics over economics?