Economy

Inflation: What's behind the headline numbers

Andy Fyers
Mon, 18 Jul 2022

Inflation: What's behind the headline numbers
An inflation rate of 7.3% is eating into households' disposable incomes. (Image: Deposit Photos)
Andy Fyers
Mon, 18 Jul 2022
Inflation for the second quarter of 2022 hit 7.3%, slightly above what the Reserve Bank (RBNZ) and most economists expected.This increases the chances that RBNZ will need to lift the official cash rate (OCR) beyond the 3.95% peak it has pencilled in for 2023.Whether it actually decides to take a more aggressive approach will probably hinge more on what happens in the third quarter, because the inflation projection which underpins the OCR projection predicts the rate of inflation will peak in June and begin to fall by September.So, a slightly el...

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