Food and fuels account for about 13.5 per cent of the entire inflation index, about three times as much as alcohol and tobacco, and prices for both have collapsed tremendously.

We would also argue, however, that the government should use the appropriate inflation index for the job at hand.

Changing the methodology for calculating the inflation index to reduce it artificially undermines investor confidence.

Food inflation remains firmly in positive territory, while electronics recorded year-on-year inflation this month, for the first time since the shop price inflation index began in 2006.

A school district adopting the resolution may not apply for referendum exceptions or ask voters for a tax increase above the inflation index.