Stagflation indicators 1970-2022

Stagflation (stagnation and inflation in one word) depicts a time period when an economy is not only suffering from a recession (declining GDP), but high unemployment and inflation rates as well. Usually unemployment and inflation are inversely related, which makes stagflation a rare ocurrence. It first happened in the 1970s, when OPEC put an oil embargo on the United States, resulting in oil prices skyrocketing to three times the standard value at that time. As of March 2022, the price of oil increased by 76 percent in comparison to last year as a result of Russian invasion of Ukraine. Although the word stagflation has been mentioned by some economists in 2022, it is too soon to say if we will have to face this undesirable economic condition in the near future.

Comparison of stagflation indicators (U.S. GDP rate, U.S. inflation rate, U.S. unemployment rate, oil price) from 1970 to 2022

Characteristic	U.S. GDP	Oil price	U.S. inflation	U.S. unemployment rate
2022*	3%	75.92%	4.3%	3.8%
2021	5.7%	68.12%	7%	5.5%
2020	-3.4%	-35.24%	1.23%	8.1%
2019	2.16%	-8.23%	1.81%	3.7%
2018	3%	32.89%	2.44%	3.9%
2017	2.33%	28.83%	2.13%	4.4%
2016	1.71%	-17.64%	1.26%	4.9%
2015	3.08%	-48.6%	0.12%	5.3%
2014	2.53%	-9.05%	1.62%	6.2%
2013	1.84%	-3.27%	1.46%	7.4%
2012	2.25%	1.85%	2.07%	8.1%
2011	1.55%	38.87%	3.16%	8.9%
2010	2.56%	27.14%	1.64%	9.6%
2009	-2.54%	-35.32%	-0.36%	9.3%
2008	-0.14%	36.3%	3.84%	5.8%
2007	1.88%	13.18%	2.85%	4.6%
2006	2.85%	20.58%	3.23%	4.6%
2005	3.51%	40.33%	3.39%	5.1%
2004	3.8%	28.29%	2.68%	5.5%
2003	2.86%	15.35%	2.27%	6%
2002	1.74%	5.36%	1.59%	5.8%
2001	1%	-16.23%	2.83%	4.7%
2000	4.13%	58.26%	3.38%	4%
1999	4.75%	42.02%	2.19%	4.2%
1998	4.48%	-34.89%	1.55%	4.5%
1997	4.38%	-7.05%	2.34%	4.9%
1996	3.77%	20.34%	2.93%	5.4%
1995	2.68%	8.56%	2.81%	5.6%
1994	4.03%	-4.9%	2.61%	6.1%
1993	2.75%	-11.44%	2.95%	6.9%
1992	3.52%	-0.97%	3.03%	7.5%
1991	-0.11%	-16.35%	4.24%	6.9%
1990	1.89%	28.6%	5.4%	5.6%
1989	3.67%	21.56%	4.83%	5.3%
1988	4.18%	-19.68%	4.08%	5.5%
1987	3.46%	31.04%	3.66%	6.2%
1986	3.46%	-49.91%	1.9%	7%
1985	4.17%	-4.22%	3.55%	7.2%
1984	7.24%	-2.89%	4.3%	7.5%
1983	4.58%	-10.32%	3.21%	9.6%
1982	-1.8%	-4.76%	6.13%	9.7%
1981	2.54%	-4.28%	10.33%	7.6%
1980	-0.26%	21.69%	13.55%	7.2%
1979	3.17%	128.23%	11.25%	5.9%
1978	5.54%	2.32%	7.63%	6.1%
1977	4.62%	7.76%	6.5%	7.1%
1976	5.39%	11.22%	5.74%	7.7%
1975	-0.21%	-5.18%	9.14%	8.5%
1974	-0.54%	307.41%	11.05%	5.6%
1973	5.65%	48.35%	6.18%	4.9%
1972	5.26%	7.06%	3.27%	5.6%
1971	3.29%	40.5%	4.29%	6%
1970	-0.35%	-4.72%	5.84%	5%

Zoomable Statistic: Select the range in the chart you want to zoom in on.

Loading statistic...

Download

Source

Show detailed source information?

Already a member?

Sources

Use Ask Statista Research Service

Release date

March 2022

More information

Region

Worldwide

Survey time period

1970 to 2021

Supplementary notes

* Forecast. Oil price as of March 2022, taken from here. The sources of other indicators are as follows: U.S. GDP forecasts for 2021 and 2022; Inflation data and forecasts; U.S. unemployment and forecasts.

Citation formats

Statistics on " The history of oil "

The most important statistics

Statistics on The history of oil

Prices

Production & Consumption

Global trade & companies

Crises & Events

Further related statistics

Further Content: You might find this interesting as well

Topics

History of oil

Statista Accounts: Access All Statistics. Starting from $468 USD / Year

Learn more about how Statista can support your business.

Development of stagflation indicators 1970-2022

Comparison of stagflation indicators (U.S. GDP rate, U.S. inflation rate, U.S. unemployment rate, oil price) from 1970 to 2022

Other statistics on the topic
History of oil

Statistics on " The history of oil "

Statistics on The history of oil

Further Content: You might find this interesting as well

Topics

Comparison of stagflation indicators (U.S. GDP rate, U.S. inflation rate, U.S. unemployment rate, oil price) from 1970 to 2022

Other statistics on the topicHistory of oil

Statistics on " The history of oil "

Statistics on The history of oil

Further Content: You might find this interesting as well

Topics

Other statistics on the topic
History of oil