'..high inflation is broadbased.''WELLINGTON, July 18 (Reuters) - New Zealand's consumer prices rose at their fastest pace in three decades .. Last week, Singapore and the Philippines surprised markets with out-of-cycle monetary policy tightenings while Canada delivered a much larger than expected 100 basis point rate hike.
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Westpac Bank said in a note that much of the strength in consumer prices has been due to large increases in the costs of food, petrol and housing although it noted high inflation is broadbased.
"Price pressures have been boiling over in every corner of the economy," it added.
Inflation and the impact it has had on a households in New Zealand have become a political issue.'
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New Zealand's inflation hits 3-decade high, raising bets on sharper rate hikes, July 18, 2022
Context(Global Stagflation) - 'This situation has essentially morphed into a cost-of-living crisis..' - Dr. Hunt(Disaster)(Fed, ECB way behind the curve) - 'US Inflation Quickens to 9.1% .. relentless price pressures..' - 'Inflation at current levels is a severe economic, social, and political problem..'(Global Stagflation) - Wholesale inflation in June surged 11.3% from a year ago