Mathematical analysis of an economy’s financial data assists in the determination and implementation of necessary fiscal policies or practices. Such analysis employs both graphical and numerical descriptive measures to accurately analyze data, and convert it into useful statistical information. Thus, is the purpose of this report to examine data pertaining to the inflation rates of twenty-eight OECD member-nations, in particular comparing the inflation rate of Australia to those of Japan, the United States, and the United Kingdom, and to present this information employing the aforementioned methods of data analysis.
Initial analysis of Australia’s data indicates the nation’s inflation rate has, in general, decreased throughout the subject period. The 1990 measurement (7.28%) was by far the highest, with subsequent years usually remaining below 2%, bar measurements of 4.64% and 2.61% in years 1995 and 1996 respectively. The high 1990 rate of inflation can possibly be attributed to financial fallout from the global recession of 1989. This theory is supported by a comparative analysis of the inflation rates of other OECD nations
Under the median measurement, Australia is seen to possess the sixth lowest level of average inflation rate (1.85%). Japan maintains the lowest rate of 0.97%.
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