Mark Smith: ASB Senior Economist on the data showing inflation is cooling as fuel prices drop

While further OCR hikes are probably on the way, inflation now appears to have turned a corner.  Latest Stats NZ data shows diesel inflation's fallen to 34.8% and petrol inflation's fallen to 15.1%, with prices for both dropping for three consecutive months.  Electricity inflation's back down to 9.5% and food inflation's now just 1.9%.  ASB Senior Economist Mark Smith told Mike Hosking inflation appears to be falling from the peak reached last quarter.  He says the numbers are very positive.  LISTEN ABOVE  See omnystudio.com/listener for privacy information.