Mike Jones: BNZ Chief Economist on the CPI data for Q1 releasing today amidst the Middle East crisis

Today's inflation numbers won't reflect the full impact of the war in the Middle East.  The first quarter of this year's expected to show a dip in annual inflation after 2025 ended with a rate of 3.1%.   Bank economists are predicting an inflation rate between 2.8 and 3.1%.  BNZ Chief Economist Mike Jones told Mike Hosking despite not showing the current picture, there will still be some interest in today’s numbers – particularly the core inflation figures.  He says that if they ease, it’ll give the Reserve Bank a bit more rope to look through some of the shock, and if they strengthen, it’ll probably excite those calling for earlier rate increases.  LISTEN ABOVE See omnystudio.com/listener for privacy information.