Capitalist crisis fuels stagflation: prices rise as recession bites
Vol. 87/No. 1 - January 2, 2023![South African public workers protest in Pretoria Nov. 22 on “National Day of Action,” demanding 10% wage raise to cover rising prices. Similar actions are taking place worldwide.](https://themilitant.com/wp-content/uploads/2022/12/South-Africa_8701-300x220.jpg)
With prices continuing to rise alongside growing numbers of layoffs, working people face the beginning of what could be an extended period of “stagflation” — a combination of increased prices and falling capitalist production, trade and jobs. The impact of…