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The AFR has gone gah, gah over some solid analysis by Baranjoey on inflation.
The former paper-turned-business grovel sheet notes that the “eternally insightful” Jo Masters (apparently she is god’s economist) says just 10 items explain about three quarters of the movement in the trimmed mean over the past 25 years. The items are:
Restaurant meals, hairdressing, vets, maintenance and repair of dwellings,
cleaning, repair and hire of clothing and footwear, telecommunications equipment and services, Other household services, New dwelling purchases by owner-occupiers sports participation and carpets.
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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
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