| 单词 | inflationary spiral |
| 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. |
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