Inflation is still much higher than it should be, largely because of high global oil prices. 

Stats NZ data shows the rate's now on 3.7%, down from 4.1% three months ago. 

Domestic non-tradeable inflation —for things like housing, electricity, and healthcare— has been trending down. 

Internationally-driven tradeable inflation —for things we import and export— has dipped, after trending up. 

But NZ Herald Business Editor at Large Liam Dann told Kerre Woodham economists are forecasting anywhere up to 4.7% inflation for the December quarter, which is pretty ugly. 

He says even if the Reserve Bank were to look through the impact of oil prices, the Consumer Price Index would still rise around 3.2%, which they can't ignore.  

Dann says it's one of the reasons economists expect them to hike interest rates. 

LISTEN ABOVE 

Inflation is still much higher than it should be, largely because of high global oil prices.&nbsp;
Stats NZ data shows the rate's now on 3.7%, down from 4.1% three months ago.&nbsp;
Domestic non-tradeable inflation &mdash;for things like housing, electricity, and healthcare&mdash; has been trending down.&nbsp;
Internationally-driven tradeable inflation &mdash;for things we import and export&mdash; has dipped, after trending up.&nbsp;
But NZ Herald Business Editor at Large Liam Dann told Kerre Woodham economists are forecasting anywhere up to 4.7% inflation for the December quarter, which is pretty ugly.&nbsp;
He says even if the Reserve Bank were to look through the impact of oil prices, the Consumer Price Index would still rise around 3.2%, which they can't ignore. &nbsp;
Dann says it's one of the reasons economists expect them to hike interest rates.&nbsp;
LISTEN ABOVE&nbsp;

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Looking for actionable business insights all in one place? 
We're here to help you find a way with a curation of the &lsquo;best bits&rsquo; from top business podcasts. 
Save time searching; subscribe to the SME Stream where you can listen to relevant, timely, business-related content today.&nbsp;
&nbsp;