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stagflation

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noun stag·fla·tion \ˌstag-ˈflā-shən\

Simple Definition of stagflation

  • : an economic situation in which prices of goods and services continually increase, many people do not have jobs, and businesses are not very successful

Full Definition of stagflation

  1. :  persistent inflation combined with stagnant consumer demand and relatively high unemployment

stag·fla·tion·ary play \-shə-ˌner-ē\ adjective

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