Inflation index back above 2 per cent

Summary: Melbourne Institute inflation rate up moderately in April; annual rate back above 2 per cent.   Despite the RBA’s desire for a higher inflation rate, ostensibly to combat recessions, attempts to accelerate inflation through record-low interest rates have failed to date. The RBA’s stated objective is to achieve an inflation rate of between 2% and 3%, “on average, over time.” Since the GFC, Australia’s inflation rate has been trending...

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