Inflation in Australia: Measurement and Modelling
نویسندگان
چکیده
Since 1993, monetary policy in Australia has targeted CPI infl ation of between 2 and 3 per cent, on average, over the course of the cycle. Over this period, the average of CPI infl ation has fallen markedly to 21⁄2 per cent, the lowest it has been for a sustained period since the 1960s (Figure 1). This paper examines two topics that are important for understanding and interpreting the behaviour of infl ation: the measurement of underlying infl ation and exchange rate pass-through. These topics are of particular interest in the current context because effective implementation of
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