Steven Joyce: Former Finance Minister says the latest inflation rate points to stagflation
The Mike Hosking Breakfast - A podcast by Newstalk ZB - Mondays
A former finance minister says there's nothing to celebrate in the latest inflation figures. Inflation has fallen to 4% in the year to March. That's well down on the 4.7% recorded in the year to December but above the Reserve Bank's forecast. Steven Joyce told Mike Hosking that non-tradable inflation —on things like rents and rates that don't face foreign competition— has only dropped slightly from 5.9% to 5.8%. He says that's troubling for the Reserve Bank and the economy, and points to 'stagflation'. LISTEN ABOVE See omnystudio.com/listener for privacy information.
