* Annual inflation down from 3.3% to 2.2%
* CPI went up 0.6% in the quarter
* Non-tradeable inflation still high at 4.9%
It is good inflation is down to 2.2%, but this doesn’t mean prices are dropping. It just means that price increases are more modest.
The level of non-tradeable (or domestic) inflation is still high. That signals to me the next OCR cut would be 50 basis points, not the 75 some have called for.
David Farrar runs Curia Market Research, a specialist opinion polling and research agency, and the popular Kiwiblog where this article was sourced. He previously worked in the Parliament for eight years, serving two National Party Prime Ministers and three Opposition Leaders.
The level of non-tradeable (or domestic) inflation is still high. That signals to me the next OCR cut would be 50 basis points, not the 75 some have called for.
David Farrar runs Curia Market Research, a specialist opinion polling and research agency, and the popular Kiwiblog where this article was sourced. He previously worked in the Parliament for eight years, serving two National Party Prime Ministers and three Opposition Leaders.
1 comment:
And you believe this state government/central bank CP(Lie) manipulated stat?
Go ask the consumer at the check out counter about the loss of their purchasing power over the last 12 months. Its not "higher prices", its loss of purchasing power, and that is a direct result of state government/central bank borrowing money (fiat currency) into existence.
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