Slow price pressures
The cost of living was just 1 per cent for employee households in the year to June 2016.
And even less for age pensioners (+0.7 per cent).
Self-funded retirees saw the cost of living rise by +1.1 per cent.
The variations seen from 2008 to 2010 were caused by big swings in mortgage interest charges, as interest rates were ratcheted higher and then fell quickly.
Elsewhere producer price indexes and consumer price indexes have all pointed to weak price pressures.
The interest rate cycle may not have reached its nadir even yet.