stag·fla·tion (stăg-flā'shən) n. Sluggish economic growth coupled with a high rate of inflation and unemployment.
Yes I see that as being partially true but we have commodity prices that have been rising over an extended period of time.
Charts of Inflation from Martin Capital Advisors:
John Murpy's Inflation Index - the ratio of the CRB Futures Index to T-Bond Futures prices
Inflation Measurements - Indicated by 12-month changes of the CPI, PPI and "Core" rates for both (which exclude volatile food & energy components).
Quarterly Inflation Measurements - GDP Implicit Deflator and Personal Consumption Expenditure Price Deflator.
Inflation versus Stocks - 30 years of the Inflation Rate compared to the S&P 500 Stock Index on the same chart. Rapidly increasing inflation has been poison for the stock market