We are still in the second boom with a blip in 2008, as a result of the Global Financial Crisis followed by a depression in the developed countries that, led to economic problems all around the world.
Price stability was achieved and maintained from 2004 to 2009, with the exception of 2008 and first half of 2009, due to high international food and fuel prices, which were beyond PNG's control. There was also prudent fiscal management in this period, except for 2008.