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单词 inflationary spiral
释义
inflationary spiral

Economics
  • The tendency for prices and wages to react in turn to increases in other wages and prices during a cost inflation. In this process prices rise to pass on increases in costs because of rises in wages and fuel or materials prices, while wages rise because of increases in the cost of living. If cost rises are partially absorbed, the spiral will gradually converge; if nobody consents to absorb cost increases, an inflationary spiral can continue indefinitely once it has started.


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