NZ inflation hits 4% – Ouch

Other people have more to say about today’s inflation result than I do (Interest blog) (the Standard) (Tumeke). Really, today’s result was pretty much what everyone was expecting – except for a stronger than expected increase in food prices (thanks to a mix of meat and fruit and veges). However, this slight uptick does make my 5% pick for September less extreme 😉

Also for all those people saying that it is only a tradable story – non-tradable inflation was 3.4%. This included some subsidies in education and health last September (so a price level shift), implying that the true rate of non-tradable inflation (growth in price level) was closer to 3.7-3.9%. Yuck.

If you have any questions about today’s inflation result, shoot – however, I won’t be checking my emails for about 27 hours from 5pm today so you better make it quick. (At least one pre-written post will magically appear tomorrow though, thanks to the magic of wordpress 🙂 )

BTW:  If you are interested in inflation, don’t forget about the inflation debate series – we are nearly up to inflation targeting, yippee.

7 replies
  1. bryanspondre
    bryanspondre says:

    Thanks for the link Matt. We are going to be running a poll shortly on what people think Bollard will do next week. Have you though about running one on here ? Could be an interesting comparison.

    Bryan Spondre

  2. Matt Nolan
    Matt Nolan says:

    “Have you though about running one on here?”

    Sadly I’m not technologically apt enough to set up something like a poll – hell I couldn’t even get ads up 🙂

    Hope the poll goes well though – hopefully he doesn’t cut rates on the 24th

  3. Ibod Catooga
    Ibod Catooga says:

    Haha this is all douche because I want filet minion in my basket all the time. Chick that kicken right on out of there and let a lobster crawl in, too.

    One time I had some cow tongue in my bakset in Kazakhstan and I did not care for it. In that case, a chicken can crawl back into my basket and I will make a nice broth but maybe before that I will have the chicken and the lobster have a cage match.

  4. Matt Nolan
    Matt Nolan says:

    “No poll is one thing but no ads is very sad 🙂 ”

    Very true 😛

    One day, maybe, we’ll sort out some stuff here – for now I’ll just keep prattling on about inflation 🙂

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