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Oil rout taking UK economy to 'joyflation': consultant

The prospect of inflation dipping further below the BOE's 2 per cent target has led investors to all-but rule out a rate increase this year.


THE UK economy is about to get a dose of "joyflation." That's the term coined by Oxford Economics Ltd to describe the combination of the oil-driven slowdown in inflation and accelerating economic growth. It's enough to force the Misery Index - a measure of an economy's health