Community and Government
Stagflation Explained: What Causes Stagflation?
Written by MasterClass
Last updated: Oct 12, 2022 • 3 min read
When English politician Iain Macleod attempted to describe his country's confounding mix of high unemployment and high inflation, he coined the term “stagflation” in a 1965 address to Parliament. “Stagflation" is a portmanteau of "stagnation" and "inflation," and economists continue to use the term today.