Inflation is cooling in other countries

The signs from across the developed world point to a plateau, or in some cases even a decrease in inflation in July.The numbers will raise hopes that New Zealand's inflation rate has now peaked, as NZ inflation has tended to follow the rest of the developed world.It will not be known for sure if our inflation rate fell until inflation figures for the second quarter are released on Oct 18.During the surge in inflation that has swept across most of the developed world in the past 18 months, where the OECD has gone, NZ has generally followed.T...