The insidious interplay between prices and indexed wages was central to the ensuing wage-price spiral. 物价与经通胀调整的工资之间的危险关系是造成工资-价格恶性循环的关键因素。
The risk of a wage-price spiral, albeit a modest one, is not negligible. 工资-价格螺旋上升,即使是一种适度的上升,其风险也是不可小视的。
Runaway inflation is usually the result of fiscal excess, financed by printing money, or rigid labour markets, which produce a wage-price spiral that the central bank fails to stop. 引起失控风险的原因通常是财政支出过度以至于不得不以印钱的方式融资;或是劳动力市场僵化以至于央行无法阻止工资-价格螺旋。
Inflation is likely to remain contained this year by the absence of price pressures globally while a wage-price spiral is not likely. 在全球没有涨价压力而工资物价螺旋上升也不太可能出现的情况下,今年通货膨胀仍会受到抑制。
The vicious cycle of the wage-price spiral of the 1970s has not occurred as both labour and capital still believe in the inflation-fighting credibility of the central banks. 上世纪70年代工资-物价螺旋式上升的恶性循环一直没有出现,是因为劳动力和资本仍然信任各国央行抗击通胀的声誉。
However, there is little evidence of wage-price spirals in the developing world. 不过,几乎没有证据表明发展中国家的工资成本上升。
It would want to avoid a jump in inflationary expectation or a wage-price spiral. 它将希望避免通胀预期飙升,或工资/价格螺旋式上升。
The ensuing wage-price spiral could ruin the global economy for years to come. 随之产生的工资-物价螺旋式上升将在未来数年毁掉全球经济。
As long as the public believes the Fed will act to control inflation, today's price increases are unlikely to feed tomorrow's wage claims, and a wage-price spiral can be averted. 只要公众相信联储会继续控制通胀,今天的价格增长就不太会引发明天增加工资诉求,工资与价格互涨的情况也不会出现。
A vicious wage-price spiral 工资与物价上升的恶性循环
And inflationary expectations are not properly anchored, increasing the risk of a wage-price spiral. 通货膨胀预期并没有有效平复,从而增加了工资价格螺旋上涨的风险。