The spread of the Delta variant of COVID-19, coupled with inflationary pressure, have led to concerns over stagflation in the United States. Korea is also not immune to such concerns, with economists saying the government should prioritize the acceleration of vaccinations and reaching herd immunity as soon as possible. A number of U.S. media outlets recently reported that concerns over stagflation seem to have been reflected in financial markets already. Stagflation, a toxic cocktail of stagnation and inflation, refers to a period of slow economic growth and high unemployment with rising prices.



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