maintain the equilibrium in the market. STEPS TO COMBAT UNEMPLOYMENT The government of Australia has taken many steps to combat unemployment and finish it from the economy. At present, every country is devising policies for the maintenance of balance in the employment in the country and to develop their economy. Government has applied different approaches to combat the unemployment challenge faced by the Australian Economy, Different laws are legislated for different states and regions so that investors are motivated and facilitated to contain the unemployment and increase the growth rate. Australian government has facilitated the private sector through subsidies and low tax rates and other benefits. Several programs are launched and completed …show more content…
Average inflation rate in the fiscal year 2016 is 1.28 percent. Consumer price index represents the fluctuation in the commodity prices of consumer goods and services and consumption by the final consumer. CPI is a statistical is estimate that is formulated by using prices of different basket of commodities. High inflation rate shown increasing trend in the prices of different commodities where lower inflation rate shows that economy is steady and consumers are enjoying the benefits of economic growth that results in overall economic development. High inflation rate depletes the purchasing power of consumer that results in stretch in the economy and make it bumpy for market to respond accordingly. Consumer price index tells all the prices after collecting the prices of sample commodities selected to construct the consumer index ratio. It depicts complete summary prices of different samples. Consumer price index data is collected periodically so that government is aware of the latest commodity prices. It helps the government to respond and contain the inflation rate into desired limits through its fiscal policies. CPI represent the market price of basket of goods and services i.e. Food and beverages, Clothing, Medical Treatment, Entertainment, communication, Housing and other useable goods and services. Consumer prices shows increase of 1.9 percent in the last quarter of 2016, following 1.7 percent increase in the previous quarter. These fluctuations shows the bumps in the Australian