Brad Olsen: Infometrics Principal Economist on food cost inflation easing, latest forecasts

Inflation may not remain as high, for as long, as previously expected.  The Reserve Bank's latest survey of business managers suggests inflation will return to a more normal level over the next year.  Latest data from Infometrics and Foodstuffs suggests food price inflation has already eased, with grocery supplier cost inflation now back down to 1.9%.  Infometrics Principal Economist Brad Olsen told Ryan Bridge although things are fine right now, the worry is it feels like we’re in a holding pattern.  He says we don’t know what’s going to happen globally, and there’s been a spike in shipping costs over the last few months that they worry might have a second wave effect eventually.   LISTEN ABOVE  See omnystudio.com/listener for privacy information.