n. Inflation accompanied by stagnant growth, unemployment or recession.
WordNet 3.0 Copyright 2006 by Princeton University. All rights reserved.
n. a period of slow economic growth and high unemployment (stagnation) while prices rise (inflation)
Word Usage
"The term stagflation is generally attributed to United Kingdom Chancellor of the Exchequer, Iain MacLeod in a speech to parliament in 1965.www. carlostmock.com"