Greg Smith: Retail expert says the sobering news is that inflation has moved to domestic items and may not come down too quickly

Good news and sobering news has come from the latest inflation announcement. The inflation rate increased 6.7 percent in the 12 months to March. That's a slow down from the 7.2 percent jump recorded in the previous quarter. Devon Funds Management Head of Retail Greg Smith told Tim Dower the sobering news is that inflation has moved to domestic items and may not come down too quickly. He says the Reserve Bank is likely to keep the OCR high. LISTEN ABOVESee omnystudio.com/listener for privacy information.