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- Dictionarystagflation/ˌstaɡˈfleɪʃn/
noun
- 1. persistent high inflation combined with high unemployment and stagnant demand in a country's economy.
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Economic theory
In economics, stagflation is a situation in which the inflation rate is high or increasing, the economic growth rate slows, and unemployment remains steadily high. Stagflation, once thought impossible, poses a dilemma for economic policy, as measures to reduce inflation may exacerbate unemployment. Wikipedia