Shane Solly: Harbour Asset Management spokesperson on whether the OCR will cut rates in August - Heather du Plessis-Allan Drive

Stats NZ  recently reported annual inflation increased to 2.7 percent in the three months to the end of June, and it's sparked concerns among experts.

Economists had all been expecting annual inflation would be recorded at 2.8 percent or 2.9 percent - close to the Reserve Bank's 3 percent target band.

Harbour Asset Management spokesperson Shane Solly revealed what this could mean for the economy going forward.

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