Brad Olsen: Infometrics Principal Economist on the latest Stats NZ data on food prices, rent, and inflation

Food prices look to be cooling, potentially bringing some relief to consumers.  Stats NZ's latest figures show annual food price inflation's fallen to 4.8%, its lowest level in two years.  Grocery inflation fell notably, increasing by only 5.4% compared to the 11% increase from 2021 to 2022.  Meat only rose 2.3% last year.  Infometrics Principal Economist Brad Olsen told Tim Dower that a number of other inputs have begun to move into a better position as well, such as international airfares dropping by 15% compared to this time last year.  One area of concern, he said, was rental properties.  Rent on new rental properties is up by 7% across the country, accelerating quickly with the increasing population growth.  LISTEN ABOVE See omnystudio.com/listener for privacy information.