Economists expect another 50 basis point cut to the Official Cash Rate this week, but are divided on how long the cuts will continue

Some now believe the Reserve Bank will pause cuts at 3.5 percent.

It comes as ASB's now estimates inflation is back up at 2.5 percent, towards the upper end of the Reserve Bank's one-to-three percent target band.

Devon Funds Management's Head of Retail, Greg Smith, says significant price rises have been recorded, in January alone.

He says at the pump, petrol prices are up four percent, diesel is up almost six percent, and most food items are getting more expensive.

Smith says the weaker Kiwi dollar may be pushing prices up.