Everyone has heard of “inflation” and “deflation” and, when things go really bad and another recession is just around the corner coupled with soaring prices and plunging wages like in Japan for example, “stagflation.” But have you heard about its optimistic, happy-go-lucky cousin?
Meet Joyflation!
This is the term which has been coined by Oxford Economics Ltd. to describe the combination of the oil-driven slowdown in inflation and accelerating economic growth.