The news that the headline rate of inflation fell to 7.9 per cent last month will have been welcomed in boardrooms across the country last week. Getting the rate down to about 5 per cent, as the prime minister has pledged, and ideally lower by the end of the year, should be our next target. Doing business in an environment where the cost of everything is rocketing is not good for anyone.
Amid all the change and turbulence of recent years, one thing that came to feel like a constant was our low inflation, low interest rate environment. But as inflation hit double digits – rates not seen since the 1970s – what has played out is just how much inflation impacts on the workings
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