The quarterly inflation figures are out today.
If it's anything near one percent for the three months, it will take the annual rate into territory we haven't seen for a long time.
There are concerns that the first digit on that annual figure could come out to a 3.
And if so, is it a blip, or a sign the economy is overheating?
Infometrics chief forecaster Gareth Kiernan told Tim Dower there are a significant amount of inflationary pressures on our economy.
“We’ve got oil prices rising, electricity prices are rising as well, container costs for international shipping are triple what they were before Covid and firms are also having to compete more for staff because the borders are shut.”