prices and incomes policy

noun

1. voluntary or statutory regulation of the level of increases in prices and incomes

Example Sentences

In reality, untouched by middle-aged poetic melancholy or a national prices and incomes policy, I could at least look forward to a squint at someone's dog-eared copy of Lady Chatterley's Lover, and the Beatles' next LP.

From The Guardian

But despite Wilson's exhortations and despite his government's voluntary "prices and incomes policy," which aims at limiting wage escalation to 3.5% annually, wages last year jumped by 8% while prices rose by 4.5%.

From Time Magazine Archive