Vol. 2 No. 9 (2025), Articles
Vol. 2 No. 9 (2025)

INFLATION AND UNEMPLOYMENT: THEIR INTERRELATIONSHIP AND IMPACT ON ECONOMIC STABILITY

Articles
Published 2025-05-19
Khidirov Ulugbek Gulboy ogli
2nd-year student, Department of Banking and Audit Tashkent International University of Financial Management and Technologies
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Keywords

Inflation, unemployment, economic stability, Phillips Curve, Milton Friedman, economic policy, price growth, economic growth, Uzbekistan’s economy, macroeconomic policy, short term, long term, economic reforms, investment, social welfare.

Abstract

This article analyzes the interrelationship between inflation and unemployment and examines their impact on economic stability. Inflation is described as a rise in the general price level and the devaluation of money, which leads to price instability for economic agents. Unemployment indicates the underutilization of labor resources in the economic system. The article explains the inverse relationship between inflation and unemployment in the short run through the Phillips Curve. However, it also highlights how this relationship changes in the long run, based on the views of Milton Friedman and A. W. Phillips. The paper also explores the current state of inflation and unemployment in Uzbekistan. In conclusion, the necessity of implementing a balanced economic policy to manage both inflation and unemployment is emphasized.

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