Coronavirus Mega-Thread. in Covid-19 & NWO Posted 16 minutes ago · Edited 14 minutes ago by skitzorat New Zealand's latest inflation rate for Q3 is 4.9%! If only some quite famous economist had done some work back in the 1960s and been able to warn that printing money and dishing it out in subsidies would cause asset and consumer prices to rise? Ardern's expecting the inflation rate to "resolve itself" ie; Reset. The Reserve Bank may need to rethink its stance on interest rates and next raise the official cash rate by 50 basis points to 1 per cent. Annual inflation jumped more than expected to 4.9 per cent in the September quarter, putting inflation almost 2 per cent above the top of the Reserve Bank’s target band. ANZ said underlying inflation was “too high” and the further removal of monetary stimulus was needed to get back on an even keel.. ASB chief economist Nick Tuffley expected annual inflation would rise above 5 per cent by the end of the year and said there was a clear risk high inflation would persist “well into 2022 and likely beyond”. ******** The Consumer Price Index has surged 2.2 per cent in the September 2021 quarter, much more than economists had expected. Excluding quarters impacted by increases to GST rates ( 12.5 to 15% in Oct 2010), the September quarter movement was the highest since the June 1987 quarter, which saw a 3.3 per cent rise Annual inflation was 4.9 per cent in the September 2021 quarter when compared with the September 2020 quarter. This was the biggest annual movement since inflation reached 5.3 per cent between the (GST-affected) June 2010 and June 2011 quarters. The September spike was up from a 1.3 per cent increase in the June quarter (3.3 per cent year on year). 10 of the 11 main groups in the CPI basket (such as food and transport) increasing in the September 2021 quarter compared with the June 2021 quarter. Vegetable prices rose 19 per cent, making it the second largest upwards contributor to inflation. This was influenced by higher prices for tomatoes, lettuce and broccoli. Transport prices rose 4.2 per cent in the September 2021 quarter, due to higher prices for petrol, as well as international and domestic airfares. Petrol prices rose 6.5 per cent in the quarter and 22 per cent for the year. The annual increase is the highest since the September 2007 quarter to 2008 quarter.