http://www.interest.co.nz

Food price inflation 6% in year to April
Food prices up 0.3% in April from March
Not as bad as monthly growth rates in February and March
Pork, poultry, fruit and vege prices all fell in April, (Pork fried veges)
But gainers included food additives and condiments, confectionary, mutton and lamb prices (+7.3%)
(No pudding or lamb roasts) Fruit after dinner
What does it mean for Reserve Bank
As generally expected by the market
Maybe slightly lower
6% annual growth can’t be ignored
Reserve Bank still has an inflation problem
Weighing up slowing economy vs inflationary outlook
Most people say September cut, maybe as early as June 5
My bet is still on a December cut
RBNZ can’t afford a NZ dollar collapse

Duration : 0:2:18


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