Brad Olsen: Infometrics Principal Economist says people are taking one step forward, two steps back
The pressure's on New Zealand households.
Finance Minister Grant Robertson is signalling another 2.5 percent rise in inflation if Russia's invasion of Ukraine lasts a year.
Inflation is already at a three-decade high and ASB says households are forking out an extra $150 a week.
Infometrics Principal Economist Brad Olsen says that figure rings true.
He told Mike Hosking households are watching costs go up but a full-time worker is only making an extra $50 a week, before tax.
Olsen says people are taking one step forward but going two or three steps back.
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