an inflationary period accompanied by rising unemployment and lack of growth in consumer demand and business activity.

1965–70; blend of stagnation and inflation Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
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World English Dictionary
stagflation (stæɡˈfleɪʃən)
a situation in which inflation is combined with stagnant or falling output and employment
[C20: blend of stagnation + inflation]

Collins English Dictionary - Complete & Unabridged 10th Edition
2009 © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
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Word Origin & History

1965, apparently coined by U.K. Conservative party finance minister Iain Macleod, from stag(nation) + (in)flation.
Online Etymology Dictionary, © 2010 Douglas Harper
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American Heritage
Cultural Dictionary

stagflation definition

An economic phenomenon of the late 1960s and 1970s characterized by sluggish economic growth and high inflation. The word is a blend of stagnation and inflation.

The American Heritage® New Dictionary of Cultural Literacy, Third Edition
Copyright © 2005 by Houghton Mifflin Company.
Published by Houghton Mifflin Company. All rights reserved.
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