More inflation tipped for NZ
The CPI will rise 1.5% in the September quarter, to reach 6.5% annually, according to forecasts from ASB senior economist Mark Smith.
While this will be a slight fall from the 7.3% in the June quarter, it is still way too high for the Reserve Bank, according to Smith.
“Core inflation rates are expected to remain sticky at close to (or at) multi-decade highs in Q3,” he wrote.
“There is also the clear risk that inflation could remain entrenched at high levels and outside the target band for longer than the Reserve Bank would be comfortable with.”
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