In the early 1990s, entrenched inflation in Australia was broken by the “recession we had to have”, as it became known. Since then, core consumer price inflation has averaged around 2.6% which, coincidentally, is almost the midpoint of the RBA’s target range of 2%-3%. In recent years, various measures of consumer inflation have been in a down-trend despite attempts by the RBA to increase them through historically low cash rates....