I beg to differ mm. There won't be any inflation. Rates near zero for quite a while and an AUD under 70c for almost a year and the effect on our inflation has been zip.
Add lower fuel prices, gaining unemployment and a population staying at home and watching endless inaccurate coronavirus news beat ups, leaving clubs, pubs, restaurants, shopping mall etc near vacant How can inflation take off? Money velocity is nearly stalled.
I read today Fitch's report about our GPN. It reckons 1.2% while another report is -.2%.
You'd hear the sigh of relief from RBA HQ in Moorooka if inflation took off.
