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New Zealand Economy, Australian Economy Igor Dupor New Zealand Economy, Australian Economy Igor Dupor

We measure inflation wrong. It’s all to do with housing, but not how you think

For decades, both Australia and New Zealand have been making decisions about interest rates based on incomplete inflation figures. The problem is not, as commonly proposed, that house prices are excluded from our measure of inflation, but rather we mistakenly omit a sizeable chunk of economic activity from our measures.

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