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It's also worth noting a counteracting event: the inflation caused by the switch to the euro in many European countries like Italy [1], Spain [2] and Finland [3]. These were sometimes actual inflation and sometimes more a matter of perception -- a price hike in a few products and goods may not show up significantly in the official price index radar, but it does wonders to skew public perception.

"In common with other countries with low-value currencies, where people are accustomed to paying in units of hundreds and thousands, the introduction of the euro, which was valued at 166 pesetas, led to stealthy but rapid inflation. Within in year a cup of coffee that in most bars cost 100 pesetas was priced at €1 while the cost of a 1,000-peseta three-course lunch leapt to €10 – a 66% increase." [2]

[1] http://news.bbc.co.uk/2/hi/business/2098033.stm [2] http://www.theguardian.com/world/2014/aug/31/spaniards-holdi... [3] http://ec.europa.eu/economy_finance/publications/publication...




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