Philips curve | NAIRU - Natural Rate of Unemployment | Indian Economy for UPSC

The Philips curve is an economic concept that describes the inverse relationship between the unemployment rate and the inflation rate. The curve is named after economist A.W.H. Philips, who first observed this relationship in the UK in the 1950s. The basic idea behind the Philips curve is that as unemployment decreases, inflation increases, and vice versa.
NAIRU (non-accelerating inflation rate of unemployment) is the unemployment rate at which inflation is stable. It is also known as the "natural rate of unemployment" or the "structural unemployment rate." The NAIRU is the point on the Philips curve where the economy is in long-run equilibrium, where unemployment is at its lowest level without sparking an upward pressure on inflation. In other words, at the NAIRU, the economy is at full employment, and any further decrease in unemployment is likely to lead to inflation.
It's important to note that the Philips curve is not a stable relationship and can shift over time, making it difficult to use to predict the future. Additionally, the existence of NAIRU, and its level, is not always agreed upon by economists and can vary depending on the country or economy being studied.
Check the video to get an in-depth knowledge on this topic in an animated format.
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Thanks for your crisp elaboration of the complex topic.....i was stuck on this topic. Thanks a lot

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ekdum heavy understanding aagyi
THank you

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Convenient and lucid explanation

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Where is the graph to short term shift of this curve?

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Hello sir, l have one question on inflation
My father is a farmer and produce grapes 🍇 since 1995. I have been watching the price of grapes from 1995 till 2022 it's around 90 ₹/kg.
Prices of grapes have not increased as inflation has increased since 1995,
The cost of labour, cost of pesticides, electricity bill 💵, prices of fuel ⛽ sum of all cost of production is increase exponentially.
✨✨So question is why the price of grapes 🍇 not increased as inflation increases?🤔
✨✨ is my father's purchasing power has decreased ? 🤔

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People in cities buy it at an exhorbitant rate while farmers don’t get anything.. same in case of vegetables. Middleman are the real rich guys

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Milton bottle + Swimmer Phelps .....
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