CA ANZ chief economist Professor Richard Holden (pictured center) cautioned that cost pressures are unlikely to fade quickly.
“Higher energy prices don’t just hit at the bowser, they push up the cost of food, freight, manufacturing, meaning everything increases in price. Businesses and households are already under pressure. This makes it worse,” Holden said.
Calls grow for coordinated policy response
Around half of those surveyed are monitoring developments closely but have yet to put in place concrete response plans, underscoring the level of uncertainty. Roughly one in five expect to raise prices, with that share higher in New Zealand (24%) than in Australia (17%).
Respondents identified two main areas where government support could help most: investment in infrastructure to bolster supply chain resilience, and direct assistance with energy costs.
CA ANZ group executive advocacy, public and government affairs, Damian Ogden (pictured right), said policymakers need to look beyond short-term fixes.