1 00:00:00,080 --> 00:00:02,199 Speaker 1: Now we've been speaking about the price of dairy earlier 2 00:00:02,240 --> 00:00:04,240 Speaker 1: in the program's been going up quite a bit, driving 3 00:00:04,280 --> 00:00:07,040 Speaker 1: the food costs higher. In the last year or so, 4 00:00:07,200 --> 00:00:10,440 Speaker 1: food prices up three point seven percent over the last year, 5 00:00:10,760 --> 00:00:13,920 Speaker 1: Milk up though fifteen percent, cheese up twenty four percent, 6 00:00:14,000 --> 00:00:16,480 Speaker 1: butter up sixty five percent. Liam dann as The Herald's 7 00:00:16,480 --> 00:00:19,480 Speaker 1: Business editor at large air Liam goot A, Heather, I 8 00:00:19,520 --> 00:00:21,439 Speaker 1: mean it hurts, but we also see the good side 9 00:00:21,440 --> 00:00:22,959 Speaker 1: of this, which is that our farmers are making some 10 00:00:23,000 --> 00:00:24,079 Speaker 1: money for the country, right. 11 00:00:24,920 --> 00:00:27,720 Speaker 2: Yeah, Well, I mean I always do. I'm always pleased 12 00:00:27,720 --> 00:00:31,319 Speaker 2: to see dairy prices booming. I know, it's you know, 13 00:00:32,000 --> 00:00:34,360 Speaker 2: these rises weren't surprising any of the king bakers and 14 00:00:35,120 --> 00:00:36,960 Speaker 2: people who are using a lot of butter, because there's 15 00:00:37,000 --> 00:00:40,120 Speaker 2: been peny of stories about it going through the roof. 16 00:00:40,159 --> 00:00:42,159 Speaker 2: But you know, and of course I had a look 17 00:00:42,159 --> 00:00:44,720 Speaker 2: on Facebook and everything on the story and all the 18 00:00:44,720 --> 00:00:46,760 Speaker 2: comments at the bottom are you know, why do we 19 00:00:46,880 --> 00:00:48,680 Speaker 2: have to pay so much when we make it here? 20 00:00:48,720 --> 00:00:51,559 Speaker 2: And I can't help thinking do we make it or 21 00:00:51,600 --> 00:00:55,080 Speaker 2: do some you know it's Sponterra is still a company 22 00:00:55,080 --> 00:00:56,520 Speaker 2: of you know, and the farmers are getting up at 23 00:00:56,560 --> 00:00:58,320 Speaker 2: five in the morning. They're making it when you know, 24 00:00:58,360 --> 00:01:01,000 Speaker 2: we can't tell them to sell to us cheaper. They 25 00:01:01,000 --> 00:01:04,840 Speaker 2: can get a better price in China and they can 26 00:01:04,840 --> 00:01:06,600 Speaker 2: get a better price in China right now, So that 27 00:01:06,720 --> 00:01:09,080 Speaker 2: that's driving it up a little bit more. I think 28 00:01:09,080 --> 00:01:12,199 Speaker 2: on the you know, pointing towards where the inflation numbers 29 00:01:12,400 --> 00:01:14,200 Speaker 2: are headed, it's a little it was a little bit 30 00:01:14,200 --> 00:01:17,520 Speaker 2: more than the economists would have liked to have seen today. 31 00:01:18,120 --> 00:01:22,600 Speaker 2: They you know, there's some other prices we can't control, 32 00:01:22,640 --> 00:01:26,080 Speaker 2: like coffee prices were up about twelve percent, twenty one 33 00:01:26,120 --> 00:01:29,360 Speaker 2: percent for instant coffee drinkers. That's not much fun. But 34 00:01:29,800 --> 00:01:34,800 Speaker 2: you know, there's still the economists resonably confident that, you know, 35 00:01:34,959 --> 00:01:39,000 Speaker 2: because of the real downturn in the core of the economy, 36 00:01:39,360 --> 00:01:43,240 Speaker 2: that the inflation isn't going to go back to those 37 00:01:43,360 --> 00:01:47,760 Speaker 2: high levels and this temporary and you're going to see 38 00:01:48,600 --> 00:01:52,280 Speaker 2: or non tradable inflation continuing to fall to balance it 39 00:01:52,320 --> 00:01:52,840 Speaker 2: all out. 40 00:01:53,200 --> 00:01:55,240 Speaker 1: Now, Liam, I see that the airfares, and I did 41 00:01:55,280 --> 00:01:56,920 Speaker 1: make this point are in the program. The air fees 42 00:01:56,960 --> 00:02:00,160 Speaker 1: have drawn attention again because the international airfares for them 43 00:02:00,200 --> 00:02:02,720 Speaker 1: just in April compared to March went up by twenty 44 00:02:02,720 --> 00:02:04,840 Speaker 1: five percent. That's, of course because there were school holidays 45 00:02:04,880 --> 00:02:06,880 Speaker 1: and you know, Easter and blah blah blah. But now 46 00:02:07,280 --> 00:02:10,480 Speaker 1: the obvious assumption is that the airlines have hiked the 47 00:02:10,520 --> 00:02:12,640 Speaker 1: price for the school holidays. But is it also not 48 00:02:12,760 --> 00:02:15,320 Speaker 1: possible that it simply is as more people book, the 49 00:02:15,320 --> 00:02:18,160 Speaker 1: supply and demand algorithm casina drives the prices up. 50 00:02:19,639 --> 00:02:21,760 Speaker 2: I guess, you know, there's been that shortage of planes 51 00:02:21,800 --> 00:02:25,120 Speaker 2: and so on, but I would say, you know, fuel 52 00:02:25,120 --> 00:02:28,800 Speaker 2: prices are quite significantly down that they've been a good 53 00:02:29,280 --> 00:02:33,200 Speaker 2: you know, going in the right direction. So you know, yeah, 54 00:02:33,240 --> 00:02:38,640 Speaker 2: look as a dad who's booked all his overseas holidays 55 00:02:38,680 --> 00:02:41,400 Speaker 2: just recently during the school you know, and I have 56 00:02:41,480 --> 00:02:43,720 Speaker 2: to go during the school holidays. Yeah, it's a lot 57 00:02:44,400 --> 00:02:45,079 Speaker 2: still at school. 58 00:02:45,080 --> 00:02:46,040 Speaker 1: I thought they were at UNI. 59 00:02:47,000 --> 00:02:48,400 Speaker 2: Two of them are still at school. And my wife's 60 00:02:48,400 --> 00:02:50,080 Speaker 2: a teacher, so I can't get around them. You know. 61 00:02:50,160 --> 00:02:52,440 Speaker 2: That's what you don't think about when you think about 62 00:02:52,480 --> 00:02:54,680 Speaker 2: the teachers having all those holidays as they can't get 63 00:02:54,720 --> 00:02:56,799 Speaker 2: the cheap airfis they've got to go win its a 64 00:02:56,880 --> 00:02:57,560 Speaker 2: school holidays? 65 00:02:57,560 --> 00:02:58,160 Speaker 1: You know what that is? 66 00:02:58,200 --> 00:02:59,800 Speaker 2: A what's that? 67 00:03:00,040 --> 00:03:01,360 Speaker 1: As a first world problem. 68 00:03:01,800 --> 00:03:04,800 Speaker 2: That's a first world problem. It absolutely is. Yeah, no, 69 00:03:05,000 --> 00:03:05,680 Speaker 2: I'll accept that. 70 00:03:06,639 --> 00:03:08,640 Speaker 1: Liam. It's good to talk to you as always. Thanks man, 71 00:03:09,000 --> 00:03:11,560 Speaker 1: Liam Dan, General Business Editor at Large. 72 00:03:12,480 --> 00:03:15,639 Speaker 2: For more from Hither Duplessy, Allen Drive, listen live to 73 00:03:15,760 --> 00:03:18,800 Speaker 2: news Talks it'd B from four pm weekdays, or follow 74 00:03:18,840 --> 00:03:20,600 Speaker 2: the podcast on iHeartRadio.