Inflation winners and breaking things

The house price bubble is bursting as inflation surges. (Image: Getty)

Mon, 27 Mar 2023

The Reserve Bank of New Zealand has often said recently that nobody benefits from inflation, or words to that effect.For example, governor Adrian Orr told an economic forum at Waikato University earlier this month that “inflation is no one’s friend. Inflation makes people poorer”.Orr had said much the same when he released the latest monetary statement on Feb 22 when he was asked whether there had been a paradigm shift to a more inflationary era: “I’ve seen no research or useful evidence that suggests that inflatio...

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