Published: 25th Nov, 2019
Stagflation is a condition of slow economic growth and relatively high unemployment, or economic stagnation, accompanied by rising prices, or inflation.
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- Stagflation is a condition of slow economic growth and relatively high unemployment, or economic stagnation, accompanied by rising prices, or inflation.
- It can also be defined as inflation and a decline in gross domestic product (GDP).
- Stagflation means a simultaneous increase in prices and stagnation of economic growth.
- Stagflation was first widely recognized after the mid-20th century, especially in the U.S. economy during the 1970's, which experienced persistently rapid inflation and high unemployment.
- The term "stagflation" was first used during a time of economic stress in the United Kingdom by politician Iain Macleod in the 1960s while he was speaking in the House of Commons
- Stagflation led to the emergence of the Misery index.
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