Published by
The Bangkok Post
The Bangkok Post
With Thailand’s inflation galloping, unemployment relatively high and the outlook for economic growth dimmed by another outbreak of Covid-19, economists and analysts are increasingly warning of a possible bout of stagflation. Stagflation is a combination of stagnation and inflation. It describes an economic condition characterised by slow growth and high unemployment (economic stagnation) mixed with rising prices (inflation). Stagflation is mostly associated with the 1970s, during which many developed economies experienced rapid inflation and high unemployment as a result of the oil crisis. Co…
