Inflation data due out today is expected to be the highest in a decade.  

The latest Consumer Price Index will be released this morning.  

A 1.4 percent rise is forecast for the last quarter - meaning an annual inflation rate of around 4.1 percent.  

Independent economist Tony Alexander told Mike Hosking it's not just happening in New Zealand.  

"It's all over the world, basically. Your inflation rate is 4.5 percent in the United States." 

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