ECONOMY
e Risk of Stagflation
The Risk of Stagflation
Inflation plus low economic growth
equals big trouble
Points for Reading
日本の物価が2021年11月から上昇し始めた原因は何
ですか。
| 経済成長のないインフレは何と呼ばれますか。
Inflation is an increase in the prices
of goods and services in an economy.
The CPI, or Consumer Price Index, is
used to show changes in prices. Graph
NOTES
00. stagflation [stagfléifan]
スタグフレーション→気悪
00. inflation [infléifan]
インフレ､通貨膨張
00. plus [plís] ~を加えて
SUNGG
インプルになる)
BASIC 2022
■衆議院予算委員会で答弁する黒田日銀総裁 (2022年5月27日)
黒田総裁は、対前年比の消費者物価指数について、エネルギー価格が大幅
に下がらない限り2%程度の上昇率が最低12か月は続くだろうという見解
を示しました。
つのだよしお AFLO
1 shows changes in the CPI compared 05
to the same month one year ago. When
the CPI is greater than 0%, it means
there is inflation. On the other hand,
03. CPI (Consumer Price Index)
費者物価指数
10. deflation [difléifən]
デフレ 通貨収縮
11. economist [ikánəmist] *****
19. cycle [sáikl]
23. natural gas #2
31. salary [sæləri] **
Fot
economic
growth
équals
Graph 1
(%)
8.0
60
40
2.0
0.0
-2.0
2020.4
[Graph 1] Changes in CPI of each country
7
the U.S.
the UK
Japan
10 2021.1
4
7
9.0
when it is less than 0%, it is called
10 deflation.
J
Most economists think that inflation
of 1 to 2% each year is good for the
economy. When prices rise, companies
get more profits and pay their workers
15 more money. Workers who are paid
more will buy more things than before.
And companies can sell more products,
so they are more likely to raise the
This cycle
prices of their products.
20 makes the economy even better.
(3)
As the graph shows, prices in Japan
began to rise in November 2021. That
was because oil and natural gas prices
became very high. Since Japan does
25 not have these resources, Japanese
WANT TO LEARN MORE?
Book
森永 康平著 『スタグフレーションの時代」 宝島社
Book
澤上篤人著 「インフレ不可避の世界」 明日香出版社
Book 今井 激著 「2022 日本のゆくえ｣ フォレスト出版
2022.1
10
4 (Year/month)
ECONOMY 2
The Risk of Stagflation
companies must buy them from other
countries at higher prices to make their
products. Therefore, even if a company
raises the prices of its products, it may
not get more profits because its costs 30
are greater. The salaries of workers
depend on the profits the company
earned, so it is unlikely that they will
be raised. This means the economy will
not grow.
When an economy has inflation but no
growth, it is called stagflation. Prices
are rising, but the economy is bad. O-
course, this is very hard for peopl
The inflation th
in that economy.
started in late 2021 could hurt Japan
economy.
VOICE
NEWSBREAKS BASE
