Sixteen million new jobs were created, while inflation significantly decreased.

Reflecting the large amount of slack in the economy, inflation will decrease further from its already low level in 2009, CBO forecasts.

Unemployment peaked at over 10.7% percent in 1982 then dropped during the rest of Reagan's terms, and inflation significantly decreased.

Also, inflation significantly decreased.

Seventy per cent of advisers said that European debt is the biggest threat to the UK economy, while 60pc think inflation will decrease over the next year.

From 2007, when increased inflation caused by tax increases decreased the standard of living, a complete restructuring of the state-administration, energy sector, relation towards private economy, health sector and welfare supports took place.

He suggested that unemployment would increase to 7.3% but inflation would decrease to 2.5%.

Then Mr. Clinton listed his economic achievements, as unabashedly as a salesman hawking his wares: rapid growth, low inflation, low unemployment, decreased poverty, "the first back-to-back surpluses in 42 years" and, as of next month, "the longest period of economic growth in our entire history."

Due to rising prices for energy, fuel, and food on international markets, inflation increased in the first half of 2011, but later decreased to an annualized rate of 3.4% at the end of September.

The Bank of England is still clinging to the hope that inflation will decrease over the next year and that a weak pound will help to provide an export-led recovery, no matter how unlikely that seems at present.