Mike Jones: BNZ Chief Economist on inflation being expected to hit 4% in latest figures

There's cautious optimism from economists that inflation will start falling after today.  

Stats NZ is releasing CPI figures for the June quarter later this morning, which is expected to largely reflect the impact of the Iran war, along with other cost pressures like rates and utility costs. 

Economists expect it surge to somewhere around 4%. 

BNZ Chief Economist Mike Jones told Mike Hosking that based on their forecasts, this should be the peak.  

He says next quarter BNZ predicts inflation to come down to 3.8%, before it tails away to be within the Reserve Bank's band in the middle of next year. 

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