Annual inflation has hit 5.9 percent for the 2021 calendar year - the highest inflation rate recorded in more than three decades.
Most economists expect the inflation rate to rise even further this year.
The Finance Minister told Tim Dower what New Zealand's experiencing is part of a global phenomenon, that's at least partly outside our control.
“It’s really challenging people, but an awful lot of it relates to Covid, supply chain and things that unfortunately will work their way through the system this year.”
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