The intuition that leads to the conclusion that stabilizing inflation promotes maximum sustainable output and employment is simple, and it holds in a range of economic models whose policy prescriptions have been dubbed the New Neoclassical Synthesis. To begin, the prices of many goods and services adjust infrequently.
Some very early intelligence we have received suggests that the damage to crops may not be quite as great as occurred with Cyclone Larry five years ago and that recovery of some crops might be a bit faster than in that episode.