31. august 2021 3  Extended period of subdued consumer price inflation following global financial crisis Per cent 20 United Kingdom 15  10 Euro Area  United States  5  0 Japan -5 80  82  84  86  88  90  92  94  96  98  00  02  04  06  08  10  12  14  16  18  20  Source: Macrobond.
Yet this environment of geo-political tensions did not ultimately prevent the 1950s and 1960s from being a period in which prosperity increased fairly steadily in the Western industrial economies. So perhaps we should take care not to overstate these uncertainties. Underlying economic forces are still important.