Stagflation-Lite? Risk of Stagflation Grows, Though Unlikely a Repeat of 1970s

Cars line up in two directions at a gas station in New York City, on Dec. 23, 1973. AP/Marty Lederhandler

Canada is leaning toward a new era of 1970s-style stagflation as the pace of economic growth slows yet inflation remains stubbornly high, economists say.

The abnormal mix of rising prices and high joblessness gripped the country 40-odd years ago.