Red-hot inflation ups ante on RBNZ to hike hard

Inflation well over target range (Image: Unsplash)

Mon, 18 Oct 2021

The fastest pace of annual inflation in more than a decade will add more heat to the debate within the Reserve Bank on how aggressively to raise interest rates. The consumers price index increased 2.2% in the September quarter, taking the annual rate of inflation to 4.9%, Stats NZ said.This was the biggest annual movement since inflation reached 5.3% between the June 2010 and June 2011 quarters when the government of the time hiked GST to 15% while cutting income taxes.If periods impacted by changes to GST rates are stripped out, the Septe...

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