One-in-three chance Reserve Bank will need to hike after inflation number

One-in-three chance Reserve Bank will need to hike after inflation number
RBNZ governor Adrian Orr is probably worried about inflation. (Image: NZME)
Cameron Bagrie
No amount of sugar-coating around a falling headline inflation rate to 4% can hide the reality. Wednesday's inflation number composition should worry the Reserve Bank of New Zealand.Non-tradeable inflation – the domestic inflation pulse – came in at 5.8%, 0.5 percentage points above the Reserve Bank of NZ's (RBNZ) February estimate.Service sector inflation, influenced by the labour market, accelerated to 5.3% from 4.7%. Inflation, excluding food and petrol, was unchanged at 4.1%. Core inflation appears to be running around 4...

More Economy

Business gloom offers inflation hope
Economy

Business gloom offers inflation hope

The New Zealand Institute of Economic Research’s (NZIER) Quarterly Survey of Business Opinion shows a continued deterioration in business confidence in the second quarter.A net 35% of firms expected a deterioration in the general economic outlook over the coming months on a seaso...

Staff reporters 02 Jul 2024
Independent costings needed for tough political decisions
Economy

Independent costings needed for tough political decisions

The time is now for an Independent Fiscal Institution.

Cameron Bagrie 01 Jul 2024
Brave-faced craft chocolate industry finds strength in unity
Retail

Brave-faced craft chocolate industry finds strength in unity

More than 30 boutique chocolate companies raised the bar at Chocstock.

Gregor Thompson 01 Jul 2024