Stagflation

High inflation, low economic growth, and high unemployment

Stagflation is the combination of high inflation, stagnant economic growth, and elevated unemployment. The term stagflation, a portmanteau of "stagnation" and "inflation", was popularized and probably coined by British politician Iain Macleod in the 1960s, during a period of economic distress in the United Kingdom. It gained broader recognition in the 1970s after a series of global economic shocks, such as the closure of the Suez Canal (1967–1975) and the 1973 oil crisis, which disrupted supply chains and led to rising prices and slowing growth.

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