The Reserve Bank has "had a good poke at the data" to check on the risks of a profit-price spiral, but doesn't see any evidence of one at a macro level, chief economist Paul Conway says. Conway has previously said; "we don't have great data on profits. "We have had a good poke at the data just to be up on the risks of a profit-price spiral. At the aggregate level we don't see any evidence of an increase in profits feeding into inflation. "I think of it as exactly symmetric, wage-price spiral, profit-price spiral.

Source: Stuff May 24, 2023 08:19 UTC