Inflation was 2023’s unavoidable topic. Will 2024 bring a change of tack from the RBA?

Fortunately, the Reserve Bank of Australia has not succeeded at raising unemployment to the 4.5% it believes is necessary to get inflation back to below 3%. Photograph: Bloomberg/Getty Images

It was, as ever, a big year in the economy. We seem to always live in interesting times and this year, even though lockdowns were over and things seemed to get back to some sort of normal, was no different. “Normal” ain’t normal any more.

Cost of living ruled the narrative