Liam Dann: NZ Herald Business Editor on the annual inflation rate rising to 3.1%

Inflation's officially higher than it's supposed to be.  Latest Stats NZ data shows inflation's reached 3.1% – up from 3% at the last update three months ago.  That's above the Reserve Bank's target range of 1 to 3%.  The Herald's Liam Dann told John MacDonald it's also well above the Reserve Bank's forecast of 2.7%.  He says there were hopes inflation was starting to fall again, so to see a rise like this isn't good at face value.  LISTEN ABOVE See omnystudio.com/listener for privacy information.