Finally, some good news for first-time homebuyers

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Happy Thursday, Daily Money readers. Jayme Deerwester back with you as we await the latest inflation numbers, which are due Friday.

What is stagflation? What you need to know about the dire combination

Think things can’t get worse? Now the World Bank has downgraded its forecast for the global economy, citing factors including stagflation, which happens when economic growth is sluggish while inflation is high.

The term lacks a formal definition or specific threshold, but elements include high unemployment and a weakened economy as prices climb. One factor that can help cause stagflation is a spike in the cost of raw materials, causing inflation and leaving people with less money to spend. 

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