“The easing of consumer price inflation in the March quarter is a welcome, if only small, move in the right direction towards the 2-3 per cent target range,” Innes Willox, Chief Executive of the national employer association, Ai Group, said today.
“Nevertheless, at an annual rate of 7 per cent, it is not only clear that reducing inflation must remain a leading priority for policy makers but also that businesses, governments, regulators and employees need to exercise restraint in wage and price-setting to ensure the current pace of price rises does not get embedded in a self-fulfilling rise in inflationary expectations,” Mr Willox said.
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