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Is it time to worry about stagflation?
  + stars: | 2023-08-10 | by ( Elisabeth Buchwald | ) edition.cnn.com   time to read: +8 min
CNN —For the past two years, economists have been worrying about the risks of high inflation rates. But far less attention has been given to inflation’s sibling: stagflation. Stagflation is the combination of high inflation and a slowing economy. The current state of stagflation: Last year, then-World Bank President David Malpass warned that stagflation risks were high because of supply chain disruptions stemming from lockdowns in China and bans on Russian oil. What’s happening now: The risk of stagflation varies significantly across different regions of the globe.
Persons: Stagflation, David Malpass, Janet Yellen, , Lan Ha, stagflation, Andrew Kenningham, , That’s, ” Kenningham, ” Ha, Ha, Parija Kavilanz, don’t, Dallin Hatch, Biden, Joe Biden, Trump, Matt Egan, It’s Organizations: CNN Business, Bell, CNN, Federal, World Bank, Euromonitor, Capital Economics, Bank of England’s, National Institute of Economic, Social Research, Trump Locations: Israel, lockdowns, China, Europe, Germany, Ukraine, Saudi Arabia
New York CNN —How consumers are feeling about the health of the US economy, and of their own wallets, could be showing up in the way we’re buying one particular indulgence — perfume. During periods of economic uncertainty, consumer behavior experts say shoppers tend to alter their purchase patterns, especially for discretionary goods. They either switch to cheaper alternatives, cut back on how often they buy a product, or stop buying some products completely. Perfume is no exception to these trends, as cheaper variants are seeing sales shoot through the roof. And that’s just one way in which consumers are pulling back, despite more traditional economic indicators telling a much rosier story.
Persons: don’t, , Dallin Hatch, Hatch, Jacquelyn, ” Larissa Jensen Organizations: New, New York CNN Locations: New York, Circana
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