1.   Any attempt to reduce unemployment below this rate was sure to fail, according to monetarists, and would bring about higher inflation.

2.   Faster growth usually generates higher inflation, which then puts the Fed on war footing, driving interest rates up.

3.   Further out, a higher inflation trend threatens, eroding these competitive gains.

4.   Higher taxes and higher inflation were a lethal combination.

5.   Instead, it tended to push up wage scales in unionized industries and subsequently pushed inflation even higher.

6.   Expansionary monetary and fiscal policies could only be bought at the expense of higher inflation rates.

7.   Since both of these effects are likely to occur during a period of higher inflation, the two of them will be working in opposite directions.

8.   And he said a Labour government would result in more intervention, more borrowing, higher taxation and higher inflation.

9.   Mr Kretzschmar says higher inflation is one of the prices paid by Germans for the reunification of their nation.