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stagflation
This term describes a paradoxical economic state where inflation and stagnation occur simultaneously. It is a portmanteau of stagnation and inflation, reflecting a scenario that contradicts traditional Keynesian economic theory, which typically suggests that inflation decreases when unemployment rises.
In professional and academic discourse, the word carries a heavy connotation of economic crisis and policy failure. It is used primarily in formal contexts such as financial reporting, political analysis, and macroeconomic textbooks to describe a systemic failure that is particularly difficult for central banks to resolve.
Meanings
An economic condition characterized by slow economic growth and relatively high unemployment accompanied by rising prices (inflation).
The government struggled to implement policies that could curb stagflation without further increasing unemployment.
Examples
The country is currently struggling with a period of severe stagflation.
How on earth do we fix stagflation when prices keep rising but growth stays flat?
The 1970s are often cited as a classic example of stagflation in the West.
I wonder if the current energy crisis will eventually lead to stagflation.
Economists are debating the best monetary policy to combat stagflation.
The risk of stagflation makes investors very nervous about the stock market.
We are seeing all the warning signs of stagflation in the latest quarterly report.
Stagflation creates a nightmare scenario for central banks trying to manage interest rates.