Economist: Jump in inflation 'not unexpected'
Bagrie Economics lead economist Cameron Bagrie says the lift in annual inflation to 4.1% was no shock, with the market and Reserve Bank both expecting about 4%.
|July 23, 2026Listen to the interview
He says underneath, price pressure is more contained.
“If you strip out fuel, your core inflation, which is less food and energy, is still running around 2.5% across a whole lot of measures,” he says.
He says the country is running a two-speed economy.
“It is a good old-fashioned export-led recovery. We’re earning a buck before we spend a buck.”
Farmers should brace for the farm input cost figures due in weeks.
“Will they be right up there? The answer is yes.”
Watch the interview
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