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Nick Tuffley: ASB Chief Economist on the inflation rate coming into target range at 2.2%
Inflation is expected to keep easing in the months to come.
Overall inflation is back within the target range at 2.2% due to falling prices for imports like petrol and diesel.
Domestically-driven non-tradeable inflation remains much higher at 4.9%, due to a sharp rise in rents, council rates and insurance premiums.
ASB Chief Economist Nick Tuffley told Ryan Bridge that inflation is expected to remain close to 2% over the next few years, with a chance of it edging below towards the end of 2025/26.
He says it would take something quite drastic to push it back up.
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