The Reserve Bank will be looking under the hood of inflation numbers today as it weighs up interest rate hikes.
Stats NZ is releasing its latest inflation data at 10.45 this morning.
The central bank forecasts the numbers would fall to 3.9%, down from 4.1% last quarter.
Westpac Chief Economist Kelly Eckhold told Mike Hosking if the Reserve Bank sees core inflation rising, they'll be more inclined towards further OCR hikes.
He says the indicators they've seen is that firms aren't trying to raise prices as the demand environment is constraining them.
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