This is evident in this next graph, which shows the share of advanced economies with a core inflation rate below 2 per cent and below 1 per cent (Graph 3). Currently, three-quarters of advanced economies have an inflation rate below 2 per cent, and one-third have an inflation rate below 1 per cent.
https://www.rba.gov.au/speeches/2019/sp-gov-2019-07-25.html  3/14  7/25/2019  Inflation Targeting and Economic Welfare | Speeches | RBA  Graph 3  The obvious question is why this has happened? There is no single answer. But there are three factors that, together, help explain what has happened.