EVER since the global economy started to "recover" from the global financial crisis in 2009, a constant concern has been that all the money printing by central banks in the US, Europe and Japan will result in sharply higher inflation in developed countries. This has not happened. In fact, over the last couple of years inflation has been falling, with the US, Europe, Japan and Canada all having inflation rates of one per cent or less. Australia has relatively high inflation but it is only 2.2 per cent. Oddly enough, currently inflation is really only an issue in some emerging countries - notably Brazil, Indonesia and India - where it reflects a combination of slowing productivity growth and cost...
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