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Alarm bells are being raised over in Australia, as economists warn the risk of inflation lingering is increasing.

The Reserve Bank of Australia raised the OCR to 4.35 percent last week- the highest official cash rate seen in 12 years.

HSBC Chief Economist Paul Bloxham says the RBA will likely have to do more to raise the OCR and bring down inflation in the coming months.

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Economists fear the primary sector is likely to struggle from lower export prices during the economic downturn.

Infometrics chief forecaster Gareth Kiernan also warns increased interest rates are likely to add to the stressful climate for new Zealand's rural community.

The Country's Jamie Mackay explains how Kiwi farmers are expected to struggle in the coming months. 

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One expert has issued words of caution for anyone expecting the incoming Government will be easier on businesses.

BusinessDesk's Pattrick Smellie says it shouldn't be a given that the National-ACT-NZ First coalition will take all the pressure of the business sector- and cited their history of policies and statements.

Smellie explained that the banks, supermarkets, fuel companies will likely experience discomfort as the incoming Government addresses the cost of living crisis.

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New Zealand First's caucus met today in Wellington- but the Party's leader was noticeably absent.

None of the newly elected MPs explained where Winston Peters was, but they said work was progressing in his absence.

ZB political editor Jason Walls says senior NZ First MP Shane Jones claimed progress was under way, and Peters would turn up- eventually.

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Yet more new developments in the case of Marokopa fugitive Tom Phillips, who vanished in 2021 with his 3 children.

A Newshub report revealed a former partner of Phillips, who is helping with the investigation, gave birth to a boy 2 years ago- a boy Phillips is believed to have fathered.

Karen Rutherford, who broke the initial story, says police have been in contact with this woman throughout the investigation. 

"We've not known about this former girlfriend before, but we understand from a police source that they believe that this woman who had a baby 2 years ago- Tom Phillips is believed to be the father."

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An investigation into alleged confidentiality breaches at Wellington City Council hasn't been able to find the leaker.

Lawyer Linda Clark has been looking into the conduct of five independent city councillors after a complaint from Deputy Mayor Laurie Foon.

The code of conduct complaints alleged councillors had leaked information about a publicly-excluded meeting about the fate of the Reading Cinema site.

Wellington City Councillor Nicola Young is among the five councillors accused of breaching confidentiality rules- but denies violating the code.

"The code of conduct is very vague- I don't accept that I broke the code of conduct, none of us did. It's extraordinary to take this action against a third of the councillors."

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Auckland's mayor says he wants congestion charging in place as soon as possible.

The council's transport and infrastructure committee is due to consider an Auckland Transport report on the scheme this Thursday.

It means motorists idling on busy roads during peak hours will have to pay up to reduce traffic jams and make council revenue.

Wayne Brown says if the incoming Government doesn't support it, there will be a squabble.

"They expected to do this - Simeon Brown, who expects to be the Minister of Transport, has agreed it's a sensible thing to do."

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Suggestions the shock appointment of a controversial former UK PM as Foreign Secretary aims to save the Conservatives' sinking ship.

David Cameron will replace Suella Braverman, who was fired after accusing police of double standards in handling protests.

Cameron resigned as PM in 2016, with one of the lowest popularity ratings in recent history.

Former Kiwi High Commissioner to the UK, Sir Lockwood Smith, says he has a wealth of experience.

"And right at this stage, I think what the Conservatives need is to just settle things down a bit, because their polling numbers aren't good- and they've got an election coming up next year."

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Fruit, vegetables and similar household staples were the largest contributor to a monthly fall in food prices.

Stats NZ says prices were 6.3 percent higher in October than a year ago- but cheaper than in September, down 0.9 percent month on month.

LeaderBrand CEO Richard Burke says supply had been restricted and demand strong, but now they're working to recalibrate.

"We've got a whole lot of crop out there that's excellent quality, and the only thing we can do is promote it like heck to get it through the market. So that's a win for consumers- and we just hope they get out there and bank that win."

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David Seymour says a referendum on Treaty principles is still on the negotiating table.

ACT signalled the policy would be a priority in post-election talks.

Prime Minister-elect Chris Luxon has said a referendum would be divisive, but New Zealand First's Shane Jones today told Radio Waatea he understands Seymour's concerns.

Seymour says it's an idea whose time has come.

"I think the more people understand what we're proposing to do, the more people hear about that- I think more people see it as a positive."

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