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The CPI conspiracy can be either up or down, which makes it more difficult to pick the conspiracy. :) When the RBA was raising rates post GFC, the smashed banana crop effected the CPI food group disproportionately in the eyes of many. When bananas came down to normal prices, the movement didn't...

like one that doesn't lead to rate holds or rises when - a storm takes out banana crops. - when the price of oil goes up, not due to higher domestic demand. I am not aware of other OECD nations that have put up interest rates in the last few years in part due to higher fuel prices. - interest...

The ABS did their 16th CPI review earlier this year. I think they realize it is far from perfect, but not as imperfect as many of us believe. Personally, I think it is time to use broader and more pertinent criteria to determine credit growth rate, but that will require an economically...