Nick Goodall

I think the thing for me was that there is so much detail.

There is a bit of terminology that's thrown out here.

One of the things that sort of cropped up to me is people go, where's core inflation at?

And core inflation generally is when you strip out some of the more volatile items.

Now, this can differ, it looks like.

It doesn't look like there's a consistent definition of this.

And I couldn't even find a figure for where core inflation's at.

But it pulls out things like food, energy, fuel, and things.

And so I was interested to know, you know, why do economists do this?

What does it really matter?

And then you get this conversation also around, oh, why don't you do a trimmed mean?

which, again, is kind of just taking out those volatile ones, I guess.

And I know Reserve Bank have got their own measure of this.

You know, what is that?

Does that bring it back down again?

Does that really matter?

Does that give them more confidence that, hey, you know, things in general are going OK, so there's no reason to panic?

Like, where does all this come into it?

And just before I pass back to you to give us a bit more of the detail on those definitions, you know, the other thing I think that jumped out was that, you know, all those things you spoke about that are contributing to the stronger inflation are

many of them are related to housing right whether it's electricity council rates insurance i know rents have come down a little bit but sort of contributing to those housing factors um but some of those things aren't necessarily controlled by the official cash rate either it's not like they can hike up the ocr and suddenly those things you know the inflation slows down of those things they're kind of independent now