Mike Hosking

But in terms of the direct oil pass through, you know, we've just recently revised down our peak.

forecast for inflation here based on the monthly indicators that have come through.

Yeah, but what we're saying is right.

They're not going to go in July, are they?

They can't.

Also, our business outlook survey was suggesting that some costs and benefits

More generalised inflation pressure, wage pressure was actually returning ahead of schedule.

Always a pleasure, Sharon.

Go well today.

Sharon Zolna, ANZ chief economist, of course, 11 minutes past seven.

Related matters, Commerce Commission decided to fire a small salvo at the fuel companies yesterday post the Iran deal and the fall in the oil price.

But is there any actual evidence that things are not as they should be?

Simon Perham is the boss at Waitomo Fuel and he's back with us.

Simon, morning.

Good morning, Mike.

You're Robert Barron screwing us at the moment or not?

No, no, I think the Comcom have been pretty consistent with their messaging through the crisis that prices should come down just as fast as they went up.

And I agree, it was probably the ZB Talkback question of the month in March of why prices go up so quickly if they bought the product six weeks ago.

And I think we buy it on a replacement cost.

as the prices come down on that Singapore benchmark, we'll be passing those through to the customers.