Finance Minister Grant Robertson said the inflation was a “problem of growth”. ROBERT KITCHIN/STUFF Finance Minister Grant Robertson talks inflation after surprise figures showed the annual rate hit a nearly 10-year high. Stats NZ's figures showed inflation has already exceeded the upper band of 3 per cent targeted by the Reserve Bank. Reserve Bank former chief economist, John McDermott, explains how inflation is measured and how it manifests itself. ANZ concluded that “inflation is here, it’s strong, and the Reserve Bank has to respond to it as soon as possible”.

Source: Stuff July 15, 2021 22:52 UTC