Business leaders react to latest inflation figure of 7.3 percent

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Recorded18 Jul 2022

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Inflationary pressures are likely to keep compounding for some time to come.The inflation rate has hit 7.3 percent, its highest point in a generation.Terry Collins, fuel spokesperson for AA, told Tim Dower petrol prices have risen 32 percent, pushing up the price of everything else.Vegetables New Zealand Chairman John Murphy says the rising cost of fuel and labour is pushing up the price of food.“We’re seeing some pretty horrendous seeding conditions this year, everything from hail to drought but also a lot of those other factors.”Matthew Horncastle, managing director of building firm Williams Corporation, told Tim Dower the cost of building has shot up 18 percent in just the past three months.“You look at some of the sites and you feel so sorry, you can tell they’re missing some critical material.”LISTEN ABOVESee omnystudio.com/listener for privacy information.

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