The inflation rate could be even higher than expected.  

The latest Consumer Price Index data will be released later this morning.  

Independent economist Tony Alexander told Mike Hosking he expects it will be higher than the 1.4 percent forecast for the last quarter.  

That equates to an annual inflation rate of more than 4.1 percent. 

“I think people should prepare themselves for something even as high as 4.5 percent for the last year.” 

He says this sort of inflation is happening worldwide. 

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