Immaculate Disinflation
Inflation falling back without a recession or big jump in unemployment, a best-case outcome central banks…
In plain English
Inflation falling back without a recession or big jump in unemployment, a best-case outcome central banks hope for.
History suggests that bringing inflation down usually hurts: higher rates slow the economy and cost jobs. Immaculate disinflation is the rare case where inflation cools while jobs and growth hold up.
The phrase was widely used in 2023, when US inflation dropped sharply without the recession many expected. It is closely related to a soft landing.
Keep this word for good
Your free Private Swap Lounge saves the terms you’ve learned and quizzes you on them. Portal under construction. Expected delivery date is December 01, 2026.