Inflation

The inflation stats out yesterday were not flash, and mortgage rates look set to rise again. The Reserve Bank has been, in my opinion, rather lacking in its responses to date.

The cumulative inflation rate over the last three years has been 8.9%. Since 1999 it has been 20.7%. In my opinion it should be averaging no more than 1% a year.

Interesting to look at the items that have increased the most over the last 12 months. They are:

Fruit and vegetables 17%
Property Rates 8%
Household Energy 7%
Hospital Services 6%
Passenger transport services 8%
Primary and secondary education 7%

So nothing important then. Just healthy food, compulsory rates, energy, hospitals, school and transport!