One of the mysteries of the English language finally explained.
Persistent high inflation combined with high unemployment and stagnant demand in a country's economy.
recession, slump, decline, downturn, slowdown, standstillView synonyms
- ‘Declining business performances and soaring consumer prices indicate that the nation could suffer stagflation with low economic growth and high inflation this year.’
- ‘In the late 1960s the postwar boom unraveled, giving way to a series of economic gyrations - inflation, slump, then stagflation and slump again.’
- ‘The result was stagflation; tighter monetary policy that did not reduce inflation, but it did lead to a small recession that increased unemployment.’
- ‘It was my disillusionment with the lack of economic opportunities associated with stagflation that politicized me.’
- ‘Today's strong productivity helps protect the economy from the ravages of stagflation because it allows companies to make more with less.’
1960s: blend of stagnation (see stagnate) and inflation.
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