Eurozone inflation: Whether AI brings disinflation or deflation is still an open question. The cost of capital isn't

Eurozone inflation just hit 3.3%, its fastest pace since 2023. But the scatter plots don't show a wage-price spiral — they show something else entirely. While markets fixate on this month's HICP print, a much bigger fight over Europe's savings is already reshaping bond yields. Here's what the headline number is actually hiding.

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