英语专业的语法高手说说the rate below which inflation has taken off in the past.语法是怎么回事

Question

America‘s capacity utilization, for example, hit historically high levels earlier this year, and its jobless rate (5.6% in August) has fallen bellow most estimates of the natural rate of unemployment — the rate below which inflation has taken off in the past. 最后一句话

the rate below which inflation has taken off in the past.
老师说说 the rate是 the natural rate of unemployment ， below which 是做定语修饰 the rate+
那岂不是 自然失业率低于自然失业率？？这是什么情况！！

详细解释，说的对的采纳
老师说the rate是 the natural rate of unemployment

below which 是做定语修饰 the rate =the natural rate of unemployment
这不是自然失业率低于自然失业率 这是什么情况

Answer 1

老师说的是对的，——the rate是指the natural rate of unemployment，below which作为定语修饰the rate， 意为：当（现实的失业率）低于此时就会发生通货膨胀的百分率