The RBA have published a new Explainer – Trends in Australia’s Balance of Payments. It describes the longer-term trends within the two sides of Australia’s balance of payments: the current account and the combined capital and financial account.
A video of the Topical Talk, Wage Setting in Australia, is now available. This talk gives an overview of the different methods of setting employee pay in Australia and some factors that influence wages growth.
To complement its suite of economics education resources, the Reserve Bank of Australia has just released a new digital interactive tool. The Inflation Explorer lets the user explore how prices of individual goods and services, and overall inflation, have changed over time. The tool is most suitable for Years 10 to 12 and helps students understand key concepts relating to inflation. It can be used as a stimulus to explore curriculum areas such as:
- how inflation is measured
- headline versus underlying inflation
- trends over time
- causes of inflation.
While the Inflation Explorer has been designed for students, it is suitable for anyone who is curious about the consumer price index (CPI) and what prices have changed in the nation’s shopping basket over time.