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Wolfgang Munchau: Strawberries out of the basket

By Wolfgang Munchau

Published: June 18 2006 19:09 | Last updated: June 18 2006 19:09

A former central banker once told the story of a French prime minister during the fourth republic who had asked why inflation always rose in late spring. His statisticians told him that this was due to the price of strawberries, a seasonal food. The prime minister then instructed his officials to take the strawberries out of the index and to include them in the winter months instead – when you could not buy strawberries anywhere in France.

Wolfgang Munchau

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