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Inflation’s Global and Local Drivers | Auckland News
Inflation hits a two-year high at 4.1%, fueled mostly by soaring fuel prices—but global oil’s recent drop is starting to ease the pain. Economists predict it’ll fall below 3% by early next year, barring new overseas shocks. The Reserve Bank won’t ease up soon, as inflation’s still creeping above their 2.9% target even without fuel. Domestic pressures like rising council rates, electricity, and housing costs are adding to the heat. With global disruptions—from chip shortages to weather-driven food crises—external shocks are now a constant threat to the economy’s stability. Listen in…
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