Meaning of “wage-price spiral” in the English Dictionary

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"wage-price spiral" in Business English

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wage-price spiralnoun [ S ]


a rise in prices that causes a rise in the amount that workers earn, which increases the cost of producing goods, making prices rise again:

A sharp fall in the value of sterling could ignite a wage-price spiral.

(Definition of “wage-price spiral” from the Cambridge Business English Dictionary © Cambridge University Press)