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Detailed explanation-1: -Stagflation is a term that refers to high inflation that happens at the same time as stagnation of growth or outright recession. But sometimes the shocks hitting the economy, rather than coming from changing demand, can come from the supply side: an oil-price shock, say, or a rise in food or other commodity prices.

Detailed explanation-2: -Inflation and recessions are very different economic phenomena, but they are intrinsically linked. High inflation rates can indicate an impending recession, as businesses react to higher costs by reducing production and increasing prices.

Detailed explanation-3: -Stagflation is the simultaneous appearance in an economy of slow growth, high unemployment, and rising prices. Once thought by economists to be impossible, stagflation has occurred repeatedly in the developed world since the 1970s. Policy solutions for slow growth tend to worsen inflation, and vice versa.

Detailed explanation-4: -The most common definition of recession used in the media is a ‘technical recession’ in which there have been two consecutive quarters of negative growth in real GDP. This definition often appears in textbooks and is widely used by journalists.