| 释义 |
inflationary spiral The tendency for prices and wages to react in turn to increases in other wages and prices during a cost inflation. During 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. |