Shamubeel Eaqub: Sense Partners economist reveals widespread profit margin increases are not adding to inflation
Despite the price of goods and services rising sharply, new data confirms high business profits aren't the cause of inflation.
A study commissioned by BusinessNZ and Sense Partners found that profit margins were lower than pre-Covid figures.
Sense Partners economist Shamubeel Eaqub says the data speaks for itself- 'greedflation' is not to blame.
"What we've seen is our farmers, our manufacturers, most of our domestic economy- we've been through a pretty tough period where we've input a lot of inflation and cost increases. But they haven't been able to pass them on into prices."
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