A stark warning that inflation will continue to spark unemployment and wage growth problems for a long time to come.
Economists are predicting our unemployment rate to come in as low as 3.1 percent today.
But economists are also predicting wage growth to increase, which will put pressure on the Reserve Bank to drop interest rates.
Economist Tony Alexander told Mike Hosking we're going to be in a situation where inflation will take some time to come down.
He says we're not going to see interest rates fall at the same rate as 2008/2009, when unemployment went to 6.5 percent and stayed there for three years.
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