According to the Phillips curve, the cost of reducing inflation is a higher unemployment rate.

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The Phillips curve shows the inverse relationship between inflation and unemployment, indicating that when inflation is low, unemployment tends to be high and vice-versa. Therefore, reducing inflation often requires increasing unemployment, as policymakers may need to slow down economic growth and reduce demand for goods and services, which can result in job losses and higher unemployment rates.

According to the Phillips Curve, the Cost of Reducing Inflation