Graph 5  The living cost pressures that many households feel have therefore been an income story, not a price inflation story. Although utilities prices did increase significantly in some states in recent quarters, much of households' regular spending has seen relatively little in the way of price increases for a number of years.
This has been an indescribably valuable experience to me, someone not originally from the central bank community. The BIS is acknowledged as a world-class institution and knowledge base, which leads the way in dealing with the main issues of the global economy.