Top Definition
(n.) A period characterized by high inflation and stagnated economic growth. Ability to use this word in a sentence inevitably labels you an economist, and therefore a nerd.
"... and this decade unfortunately showed us a period of stagflation ..."
by The Snailfather November 01, 2005
The state of being economically fucked.

Unemployment is high, and so is inflation. Increasing economic production will reduce unemployment, BUT push inflation even higher. Reducing economic production will reduce inflation, but put more people out of work.
What am I supposed to do about this stagflation?

I dunno. Damned if you do, damned if you don't, really.
by terriflick November 02, 2010

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