Tentative signs that inflation might be peaking
Tentative signs that inflation might be peaking
1 June 2022
The latest ANZ Business Outlook shows the net proportion of firms intending to raise their prices in the next three months is 71 percent - but that's dropped from March's 80.5 percent.
ASB Senior Economist Mike Jones says that will provide some comfort to the Reserve Bank that the inflation outlook isn't getting any worse.
But he says ASB's view on OCR hikes hasn't changed.
Jones says inflation remains public enemy number one, so they continue to expect 50 point rises over the next couple of meetings -- and then some 25 point rises after that.
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