ANALYSIS: The big fear driving the RBA's decision to raise rates — even though they make Australians poorer
and just about every other Western nation, as China deluged the world with low-priced goods and companies began offshoring.US economic historian Adam Tooze says it's reasonable to ask whether we had inflation at all from the mid-1990s onwards.largely synchronous increase in the prices of goods and servicesSpace to play or pause, M to mute, left and right arrows to seek, up and down arrows for volume.
It needs to be largely synchronous to qualify as inflation because otherwise the amount a dollar can buy isn't clearly changing — any such effect is overwhelmed by changes in theIt is only when prices start to move together, as they are now, that inflation gets normalised and becomes entrenched. Twenty years ago, in June 2002, by my count 20 of the 87 types of items that made up the consumer price index fell in price. Ten years ago,
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