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Brad Olsen: Infometrics Principal Economist on food cost inflation easing, latest forecasts

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Inflation may not remain as high, for as long, as previously expected. 

The Reserve Bank's latest survey of business managers suggests inflation will return to a more normal level over the next year. 

Latest data from Infometrics and Foodstuffs suggests food price inflation has already eased, with grocery supplier cost inflation now back down to 1.9%. 

Infometrics Principal Economist Brad Olsen told Ryan Bridge although things are fine right now, the worry is it feels like we’re in a holding pattern. 

He says we don’t know what’s going to happen globally, and there’s been a spike in shipping costs over the last few months that they worry might have a second wave effect eventually.  

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