Part 2/10:
However, contrasting opinions raise questions about how low inflation truly is and what it means for Australians. Adam Kryton, Chief Economist at the Institute of Public Affairs, cautiously approached the celebration. He pointed out that core inflation, specifically the trim mean, remains at approximately 2.7%, roughly double what it was before the COVID-19 pandemic. This level of inflation implies that prices double roughly every 24 years at a 3% annual rate—still significant and warranting concern.