The rising cost of living is down to more than global uncertainty, according to one expert.

Stats NZ data shows costs for the average household jumped 3.2 percent annually to June, a more than four-year-high.

Petrol was the biggest contributor - skyrocketing more than 27 percent.

Independent economist Cameron Bagrie says shocks like US tariffs and its war with Iran play a role, but core inflation is still higher than before Covid.

"But there's a little bit more of a sticky persistent inflation - it's the obvious drivers like rates, it's your insurance, it's your energy bills, which the Reserve Bank can't control."

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The rising cost of living is down to more than global uncertainty, according to one expert.
Stats NZ data shows costs for the average household jumped 3.2 percent annually to June, a more than four-year-high.
Petrol was the biggest contributor - skyrocketing more than 27 percent.
Independent economist Cameron Bagrie says shocks like US tariffs and its war with Iran play a role, but core inflation is still higher than before Covid.
"But there's a little bit more of a sticky persistent inflation - it's the obvious drivers like rates, it's your insurance, it's your energy bills, which the Reserve Bank can't control."
LISTEN ABOVE

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers. 

Whether you’re a small business owner or interested in what’s going on in the Big End of Town, this podcast encompasses the sharpest voices and minds in the world of business.

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers. Whether you’re a small business owner or interested in what’s going on in the Big End of Town, this podcast encompasses the sharpest voices and minds in the world of business.

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers.

Best of Business

Cameron Bagrie: independent economist on what's really behind the increased cost of living

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/e6c316c3-a9df-4d2d-a249-b4950063ac06/transcript