Latest / Best of Business / Liam Dann: NZ Herald business editor at large on food prices falling in October

Transcript

Liam Dann: NZ Herald business editor at large on food prices falling in October · Best of Business

• 0:09
  Speaker 1: You're listening to a podcast from News Talks. There'd be
• 0:12
  Speaker 1: follow this and our wide range of podcasts now on iHeartRadio.
• 0:16
  Speaker 2: Liam Dan is The Herald's Business editor at large. Liam, Hello,
• 0:20
  Speaker 2: did I hear what's going on with the monthly food prices?
• 0:22
  Speaker 1: Then?
• 0:23
  Speaker 3: Well, sort of sort of good news. I mean, you know,
• 0:26
  Speaker 3: it's in case, it's not rocket science. It's October, and
• 0:29
  Speaker 3: vegetables got cheaper. But broadly speaking, the food prices were
• 0:35
  Speaker 3: down a bit or flat, which is good news because
• 0:39
  Speaker 3: the rest of the inflation story is catching up. The
• 0:43
  Speaker 3: all that non tradable inflation is catching up, so the
• 0:46
  Speaker 3: economists is quite happy about that. Looks like we will
• 0:48
  Speaker 3: be on target to hit the inflation target around two percent,
• 0:53
  Speaker 3: so you know, look broadly good news. But I just
• 0:55
  Speaker 3: did notice a little caveat there that the dairy prices
• 1:00
  Speaker 3: are starting to creep up. So you know, now this
• 1:03
  Speaker 3: is weirdly a good thing for New Zealand, right, But
• 1:05
  Speaker 3: it just means watch that block of cheese price because
• 1:07
  Speaker 3: I can guarantee people will be complaining about it in
• 1:11
  Speaker 3: the coming months as the dairy farmers go about the
• 1:14
  Speaker 3: business of possibly saving the economy.
• 1:16
  Speaker 2: Are we all settled on a fifty basis point cut
• 1:19
  Speaker 2: this month rather than seventy five.
• 1:21
  Speaker 3: Looks looks looks like it. I think I said to you,
• 1:23
  Speaker 3: I thought they'd go seventy five a few weeks ago.
• 1:25
  Speaker 3: But nobody's picking that anymore. The unemployment came in a
• 1:30
  Speaker 3: bit better than expected, and then of course our dear
• 1:33
  Speaker 3: friend Donald Trump is expected to do a whole bunch
• 1:37
  Speaker 3: of policies. It has the markets pushing bond yields up,
• 1:40
  Speaker 3: which means interest rates around the world rise, and so
• 1:43
  Speaker 3: that's a little bit more upward pressure. So I don't
• 1:47
  Speaker 3: think we're going to see anything other than fifty. I mean,
• 1:49
  Speaker 3: they couldn't go less than that. We've still had all
• 1:52
  Speaker 3: the recessionary problems, but seventy five does look to be
• 1:56
  Speaker 3: off the table.
• 1:57
  Speaker 2: I good to talk to you. Thank you, Liam, really
• 1:59
  Speaker 2: appreciate it. Liam dan Ol Jesus Editor at Large.
• 2:02
  Speaker 1: For more from News Talks B listen live on air
• 2:05
  Speaker 1: or online, and keep our shows with you wherever you
• 2:08
  Speaker 1: go with our podcasts on iHeartRadio