The term “joyflation” (joy + deflation/inflation) was coined by Oxford Economics Ltd. in December 2014. “Joyflation” referred to the oil-driven slowdown in inflation and accelerating economic growth—things that bring joy to an economy.
   
     
Business Insider
Britain’s ‘Misery Index’ Is About To Drop To The Lowest Level In A Generation
MIKE BIRD
DEC. 30, 2014, 2:40 PM
Britain is heading for its most joyful year in the last quarter of a century, according to a group of economists.
 
Oxford Economics, a consultancy, says that the UK’s “misery index,” a combination of unemployment and inflation, will tumble to a multi-decade low in 2015.
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Here’s Oxford Economics’ Scott Livemore on the “joyflation” trend:
 
There has been a lot of concern expressed in Europe about the risks of deflation and the threats it poses to economic stability. But falling oil prices offer the prospect of “good deflation” for the UK—giving people and companies more cash to spend and so supporting economic growth and jobs. It’s like we’ve had a big tax cut, but one paid for by the oil-producing nations overseas rather than by the Treasury.
 
Twitter
Kevin Offer
‏@SELCTAX
How long before Gidiot and Call Me Dave take credit for “joyflation” in 2015?
http://uk.businessinsider.com/britains-misery-index-drops-to-multi-decade-low-2014-12 …
3:30 PM - 30 Dec 2014
   
Bloomberg.com
‘Joyflation’ Poised to Lift British Economy From Misery
By Simon Kennedy Jan 11, 2015 7:01 PM ET
The U.K. 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 generated by adding the rates of unemployment and inflation—to its lowest since at least 1989 when consumer-price data became available.