Our inflation forecasts are on point, but we aren’t celebrating. CPI numbers out this week tell an uncomfortable story. Inflation at 3.1% is just above the RBNZ’s target band (again), with no big downside surprises to help ease cost pressures.

It’s painful to see the cost of essentials make another jump. Kiwi households struggling with the cost-of-living didn’t need food costs (fruits, vegetables and meats especially) to go up in price AGAIN in Q1 of 2026.

The Quarterly Survey of Business Opinion showed that despite pressure on prices, Kiwi businesses are struggling. Uncertainty is too high and consumers just aren’t willing (or able) to accept higher prices.

Hosted by Jarrod Kerr, Sabrina Delgado, and Alexandra Turcu. Follow our economic commentary & insights here.

Any views or information shared in this podcast, while given in good faith, aren't necessarily the view of Kiwibank.