The latest inflation numbers could be a bit of a mixed bag - but there's light at the end of the tunnel

The Consumer Price Index for the past three months is projected to push to three percent - its highest point since the middle of last year.

ASB Senior Economist Mark Smith says this largely comes down to higher prices for things like food, electricity and rates.

But he says domestically generated inflation - in areas like construction - will likely continue to ease.

Smith says with the cost of living increases slowing, and domestic inflation cooling, we're likely to see the Reserve Bank cut the Official Cash Rate further.