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The headline inflation number for May of 2022 was reported on Friday, June 10, 2022 at 8.6 percent annualized, which is the highest it has been in 40 years and has been causing fears of a phenomenon known as stagflation — which describes an environment of the combination of slowing or stagnant economic growth, jobs losses, and inflation — which occurred during the 1970s and had sent the stock markets tumbling as a result.
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