Just had to say that Brian Fallow’s column on inflation in the NZ Herald was really good – I think everyone should read it.
Generally, economists seem to be running with a consensus about what inflation is and why it is bad (outisde of Berl at least – although they have toned down the anti-targeting rhetoric of late, and focused it more to a duel target mandate) – we currently differ insofar as we have different outlooks for NZ economic growth, and therefore different outlooks for where inflation will head in the current monetary policy setting.
There is a lot of economic information out today – however, this means I will be very busy. As a result, don’t expect to much from me until later this afternoon 🙂
If anyone has any economics topics they would like covered at some point – mention them in the comments and I’ll see what I can do.