Where to next, for the Kiwi economy
business food 9:20 am today
Food prices have risen at their highest rate in 18 months, and inflation is heading towards the top of the Reserve Bank's 3 per cent target. So what are the implications for the economy and hopes the Government has for growth? Stats NZ's latest food prices index was up 4.4 per cent on the last year with - meat, poultry and fish the biggest risers for the year. Butter, milk and cheese drove grocery prices - the average price for butter was up 51 per cent over the past year, with cheese up 30 per cent. Kiwibank says the outlook for growth is cloudier than ever - its economist Mary Jo Vergara explains.
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