A comparison of the experience of the major industrialised (G7) countries, Australia and New Zealand, shows that seven of these nine countries have
experienced average inflation in the range 1 — 3 per cent over the past two years (Table 1).
Not exact matches
To conclude, over the past decade and in a very volatile world, Australia has achieved the
inflation target, avoided a major economic downturn, seen remarkably little variability in real economic activity in the face of enormous shocks,
experienced a fairly low
average rate of unemployment, and had a stable financial system as well.
While the young worker's portfolio performance still modestly outpaced
inflation, the more conservative retired investor
experienced negative real returns on
average for 16 consecutive years.
In contrast, households in the bottom quintile
experienced an
average growth of about 1 percent per year in their
inflation - adjusted after - tax income over the same period, making that income 46 percent higher in 2013 than it was in 1979, CBO estimates.
In contrast, households in the bottom quintile
experienced inflation - adjusted after - tax income growth of 1.2 percent per year, on
average.