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20 May 2022 0:19
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  •   Home > News > Business

    Omicron is expected to burn a hole in consumers' pockets

    Omicron is expected to burn a hole in consumers' pockets


    The highly contagious variant is expected to lead to supply chain disruptions, as people fall ill.

    ANZ chief economist Sharon Zollner says people will choose not to go out so much and prices are expected to go up.

    She says for the Reserve Bank it's yet another negative supply shock that's going to lift inflation pressures, despite being bad for growth.

    ANZ's predicting inflation of six percent next year but Sharon Zollner says it could go higher.

    © 2022 Newstalk ZB, NZCity

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     Today's News

    International:
    Ukrainian fighters in Mariupol's Azovstal steelworks have surrendered to Russian troops. Here's what happens next 23:20

    Business:
    The Finance Minister's leaving the door open for extending a new cost of living payment 21:50

    Golf:
    American golfer Jordan Spieth will try to become the sixth player in history to complete the career Grand Slam at this week's PGA Championship in Oklahoma 21:20

    Motoring:
    Australia's Caleb Ewan withdraws from Giro d'Italia ahead of stage 12 21:00

    International:
    The Loop: Labor's policy costings revealed, Pauline Hanson gets COVID, how to get involved in our live election Q+A 20:10

    Living & Travel:
    A huge opportunity for eight men's kayakers to test themselves on the international stage this weekend 19:00

    Law and Order:
    A Wellington man's been banned from fishing and sentenced to home detention for his part in gathering 319 paua to sell 18:30

    International:
    The latest COVID-19 case numbers from around the states and territories 18:00

    Politics:
    The Maori Party is calling for on the Government for bolder ideas to tackle inequality 18:00

    Rugby:
    Sevu Reece loves what the Fijian Drua could possibly do for rugby in the island nation ahead of playing them for the first time 17:50


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