Business
Australian inflation has biggest ever quarterly fall dropping 1.9% partly due to free childcare – The Guardian
Australia experienced deflation for the year to June and economists expect the Covid-19 recession will keep prices low
Australia has recorded the largest ever quarterly fall in inflation of 1.9% after the Morrison government temporarily made childcare free due to the coronavirus crisis.
Economists expect the countrys Covid-19 recession will result in a prolonged period of low inflation, forcing retailers to cut prices or keep them low and crushing workers hopes of a pay rise.
Australia experienced deflation falling prices for the year to the end of June of 0.3%. This was the first time inflation has been negat…
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