Stagflation, a term coined during the economic turmoil of the 1970s, refers to the unusual and unfavorable combination of stagnant economic growth and high inflation.
According to the latest data from the U.S. Bureau of Labor Statistics, the Consumer Price Index (CPI) showed a 0.4% increase for December 2024 on a seasonally adjusted basis.
As we approach 2025, workers can expect average salary budget increases to hover around 3.9%, according to a recent survey by WTW, a global advisory, broking, and solutions company.
