Confidence steady but inflation expectations soar

Fri, 02 Jul 2021

Inflation expectations cracked a record high 5% in the latest ANZ NZ Roy Morgan consumer confidence survey.Household inflation expectations are typically too high – and volatile – but that doesn’t mean they don’t matter, said ANZ Bank chief economist Sharon Zollner.“Higher household inflation expectations make it easier for retailers to raise prices without fear of customer backlash, and can also impact wage demands if the labour market is tight, like it clearly is now,” she said.Similar to business inflation...

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