We have a domestic inflation problem

Food price inflation is still going up. (Image: Getty)

Fri, 21 Oct 2022

You might not know it from the reaction, but inflation actually eased in the third quarter of 2022.The 7.2% increase was down from 7.3% in the second quarter. So, inflation does appear to have peaked, as expected by most economists.Crucially, however, the rate did not fall by anywhere near as much as was expected by the Reserve Bank of New Zealand, which had projected annual inflation of 6.4% in the third quarter in its most recent set of projections back in August.The overshoot increases the likelihood of official cash rate (OCR) increases bey...

Unlock all stories free for 10 days

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

We won’t charge for 10 days. You can cancel anytime with two clicks, an email or a phone call. Find out more.

We are serious about journalism.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].interval) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

You will be charged in 10 days unless you cancel beforehand.
We will remind you three times before charging you.
All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Economy

Auckland tumbles, Southland on top in ASB regional scoreboard

Auckland has fallen to 5th place.

Tom Raynel 4:10pm

Property

Property operator will negotiate with Italian restaurateur

Stride's CEO says the landlord won't be silly over a lease dispute with Portofino.

Maria Slade 3:40pm

Property operator will negotiate with Italian restaurateur

Primary Sector

Jones heads to Oz to woo mining investors

Work has begun on a critical minerals list and stocktake.

Ian Llewellyn 3:32pm

Jones heads to Oz to woo mining investors

Sponsored

Smart chargers don't just charge EVs

They also take the pressure off a stressed power network - We.EV

We.EV

Sponsored

Big change coming to insurance

Industry reset sees risk-based pricing coming for many homeowners.

VERO

More Economy

Economy

Auckland tumbles, Southland on top in ASB regional scoreboard

Auckland has fallen to 5th place.

Tom Raynel 4:10pm

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