What is stagflation?

Stagflation is a term that has appeared in the media recently because of the direction of the economy and inflation. But what does it actually mean in the current environment? Stagflation is an economic phenomenon characterised by a combination of stagnant economic growth, high unemployment, and high inflation. It’s a rare and challenging situation because conventional economic policy tools often conflict in addressing its various components. Stagnant economic growth means the economy isn’t expanding, leading to minimal job creation and …

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