Commentary 
“We now have the worst of both worlds—not just inflation on the one side or stagnation on the other, but both of them together. We have a sort of ‘stagflation’ situation. And history, in modern terms, is indeed being made.” – Iain Macleod (1965)
Stagflation was a new phenomenon in 1965, but now it looks like stagflation is back and it is looming over the economies of the United States and Europe.
What is stagflation?
Simply put stagflation is when prices continue to surge while economic growth grinds to a halt; a situation where the economy has persistently high unemployment, and high inflation (especially high energy prices).
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