The politics of falling inflation has been clear – lower is better. But Australia should beware its flip side: slow growth

Michele Bullock had made it clear that holdouts on the RBA’s monetary policy board were waiting for more comfort that inflation was tracking down. They have that now. Photograph: Jane Dempster/AAP

There is much to like in the latest inflation figures, which dropped to 2.1% in the year to June – and even to 1.9%, if you believe the less reliable monthly version.

We have certainly come a long way in the two-and-a-half years since inflation reached nearly 8%.