You have to have a bit of a laugh at the use of the term "Monstrous" For goodness sake its just a little bit over the RBNZ's targeted 1-3% inflation band with the mid point being 2%. For many many years its been well under the mid point of that band, which has been cause for concern.
Obviously the N.Z. Herald and other publications are staffed by young people who cannot ever recall inflation in the 1980's of nearly 20% per annum or have never even heard the term hyper inflation or understand what is meant by that.
Online dictionary has the following detail regarding the word "monstrous"I suppose they use the term under their creative license to sell papers and online subscriptions.having the ugly or frightening appearance of a monster.
"monstrous, bug-eyed fish"
synonyms:
grotesque · hideous · ugly · ghastly · gruesome · horrible · horrid · horrific · horrendous · horrifying · grisly · disgusting · repulsive · repellent · revolting · nightmarish · [more]
I wouold suggest the real term monstrous is best used to describe the journalists stooping to this level of gutter journalism which in my opinion is grotesque sensationalism at its worst.
As expected by any sane and rational observer, the market easily took this very slight inflation surprise in its stride.
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