Get your bell bottoms on because stagflation might be back
The 1970s, the decade of bell bottom trousers, prawn coctails, disco, Lynda Carter & stagflation!
Okay the official inflation rate isn't nearly as bad as it was in the 1970s. Thing is being as there's hardly any growth in the economy & therefore wages aren't going up as nearly as much as the rate of inflation & therefore it does feel as if it is a return to the 1970s. the spirally level of debt here in the 1970s & wages not keeping pace, led to an awful of industrial wage disputes, which scared investment away & the recent riots whatever the cause are likely to do the same.
Milton Friedman where are you when we need you.