aussies are being warned to expect continued higher prices for goods and services, with prices not returning to their pre-pandemic levels. reserve bank governor michele bullock said during a recent asic annual forum that the central bank was not going for deflation, meaning prices wont fall. she said even when inflation eased, consumers could expect permanently higher prices. we can bring inflation back down, but to get prices back down to where they were pre-covid would imply deflation, ms bullock said on thursday, appearing on a panel at an asic conference. > ms bullock said the only way prices would fall was if there was a major economic shock, similar to the great depression > deflation is usually the worst-case scenario for an economy.   what did she mean by this?
Australia