Grant Robertson: Finance Minister says several factors are continuing to keep inflation historically high

The Finance Minister says several factors are continuing to keep inflation historically high. The Consumers Price Index rose six percent in the year to June. That's down on 7.3 percent in the year to June last year, but still well above the Reserve Bank's target range of one to three percent. Grant Robertson told Mike Hosking the price of imported building supplies continues to rise, and severe weather events like Cyclone Gabrielle have had a huge effect. He says weather damage has particularly affected food prices and transport costs. LISTEN ABOVESee omnystudio.com/listener for privacy information.