inflationary spiral(redirected from price-wage spiral)
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(Economics) the situation in which price and income increases may each induce further rises in the other
a cycle of worsening inflation as higher prices result in higher wages, increasing costs and resulting in still higher prices.
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|Noun||1.||inflationary spiral - an episode of inflation in which prices and wages increase at an increasing rate and currency rapidly loses value|
spiral - a continuously accelerating change in the economy
deflationary spiral - an episode of deflation in which prices and wages decrease at an increasing rate and currency gains in value