With frozen wage increases combining with high unemployment and a growing commodities glut, plus minimal interest rates, it seemed the post-Great Recession was bordering on disinflation, both in the United States and Western Europe, as the first half of 2015 ended.
But with the advent of higher-than-expected health-care expenses, an outburst of spreading minimum wage hikes through private and public U.S. businesses, and the acceleration of cost increases to agricultural and industrial products alike, the dreaded stagflation seems to have gained new footing as the second half of 2015 got underway.