Mike's Minute: We are shooting ourselves in the foot over the economy and inflation
There is a key line in the latest ANZ Business Outlook survey that may well mean some of our predictions around inflation sadly come true.
The line is "in New Zealand, services inflation had also continued to build even as the global inflation pulse starts to fade; domestically generated inflation and our super tight labour market will keep the pressure on the Reserve Bank to remain tough on inflation."
Services inflation, by the way, is rents, housekeeping and servicing your car - all the stuff you pay for regularly and are watching go up every time a bill arrives.
That is driven partly by…
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