Inflation (HSC SSCE Economics): Flashcards
📚Flashcards
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Aus avg inflation rate 1996-2023
Aus avg inflation rate 1996-2023
2.6%
RBA's inflation target band
RBA's inflation target band
2-3% over economic cycle
Year RBA began inflation targeting
Year RBA began inflation targeting
1993
RBA action when inflation pressures emerge
RBA action when inflation pressures emerge
Increases interest rates to slow demand growth
Peak underlying inflation Sep 2008
Peak underlying inflation Sep 2008
5.1%
Headline inflation peak Dec 2022
Headline inflation peak Dec 2022
7.8%
Expected inflation 2023-24
Expected inflation 2023-24
3.3%
Headline inflation (CPI) measures
Headline inflation (CPI) measures
Overall change in consumer prices (all items)
Underlying inflation measures
Underlying inflation measures
Persistent inflation trend (removes volatile price movements)
Aus continuous economic growth period
Aus continuous economic growth period
1991-2019