# The Stagflation Panic Is Wrong — Here's What's Really Happening

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Text version: https://stenobird.com/podcast/noise-cancelling-with-neil-woodford-7475728/the-stagflation-panic-is-wrong-here-s-what-s-really-happening.md
Podcast: [Noise Cancelling with Neil Woodford](https://stenobird.com/podcast/noise-cancelling-with-neil-woodford-7475728)
Published: 2026-04-10T16:37:55+00:00
Episode link: https://w4pz.podbean.com/e/the-stagflation-panic-is-wrong-%e2%80%94-heres-whats-really-happening/
Audio file: https://mcdn.podbean.com/mf/web/r8ywum34xdfybkfk/the_stagflation_panic_is_wrongalj3e.mp3
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Duration seconds: 2757

## Resource

Everyone is screaming stagflation. Neil Woodford thinks they are wrong. In this episode, we walk through four structural deflationary forces — in goods, services, energy and labour — that were pushing prices down before the Iran war and have not been reversed by it. Plus: what it means for your mortgage, gilts and savings, and our update on the Iran war scenarios.

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## Transcript

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