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Explainer: What in the world is inflation and why do we care?

It’s been a tough week for homeowners and anyone with a wallet as the Reserve Bank raised the official cash rate and announced a recession was looming.

And it is all thanks to inflation, which reached a 32-year high of 7.3% in July and currently sits at 7.2%.

We asked an economist all the things you might be too afraid to ask about inflation and why it is affecting us so much.

Read More: https://www.stuff.co.nz/business/130592700/explainer-what-in-the-world-is-inflation-and-why-do-we-care?cid=app

Source: Stuff.co.nz 

 

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