For example, the so-called trimmed mean consumer price index (CPI) has risen by only 0.9 percent over the past 12 months, and a related measure, the median CPI, has increased by only 0.5 percent over the same period. 2 The decline in underlying inflation importantly reflects the extent to which cost pressures have been restrained by substantial slack in the utilization of productive resources.
Secondly, it is also very obvious from the surveys and feedbacks that our people want to be treated with respect. They want to feel that they are valued. They want to feel that they are recognised for their contributions.