Wars, the pandemic, China’s economic woes and critical flaws in the supply chain have put economies on alert across the globe. 2023 is tipped to be the year of high inflation and economic stagnation - stagflation.

We speak to Richard Holden, professor of economics at the University of NSW about just what it is, and how it will affect us in our day-to-day lives?

Headlines:

- Extreme weather brings Australian Open matches to a halt
- The Chinese and Russian economies have shrunk
- Renee Geyer and Jim Molan have died
- An Aussie has avoided the death penalty in Indonesia

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Back to the 70s: what is stagflation?