[Sydney, 4th Reuters]-Reserve Secretary of Australia (Central Bank), Ellis Governor, said the policy authorities predicted inflation on the 4th was a “big” impact on the pricing model due to intensifying competition in the domestic retail industry He pointed out that it has become an important issue in making
Major global companies such as Amazon.com <AMZN.O> have entered the retail market in the country. Price competition is taking place, which is the main reason why prices are sluggish.
The country's underlying inflation rate has fallen below the medium-term target of 2-3% for the central bank over the past three years, which is a major cause of the central bank's interest rate cuts.
Governor Ellis spoke at Geelong in the southwest of Melbourne, “Retail prices have tended to rise at roughly the same pace as overall inflation over the past decade, but current retail prices have been flat or declining. Pointed out. "
“This is a major change in pricing behavior seen in some key areas of the consumer price index,” says, “The question of how long these moves will continue is our key challenge in making inflation forecasts. It has become.
