Japan's Inflation Surges to 41-Year High Despite Energy Plunge, BOJ Under Pressure.
TL;DR Summary
Japan's core Consumer Price Index (CPI) spiked to a new 42-year high of 4.1% in April compared to a year ago, driven by month-to-month spikes of 0.7% in April, 0.6% in March, and 0.4% in February. Energy prices have been plunging for months, but food prices spiked by 8.4% from a year ago, the worst inflation rate since 1980. The Bank of Japan's new boss, Kazuo Ueda, has come out in favor of letting inflation rip, thereby letting inflation take care of Japan's huge government debt burden.
- Inflation Re-accelerates in Japan, Core CPI Spikes to 41-Year High, even as Energy Plunges. BOJ's Ueda Vows to Let her Rip WOLF STREET
- Japan's inflation stays above BOJ's target, key gauge hits four-decade high Reuters
- Japan's inflation quickens again, putting pressure on BOJ view The Japan Times
- BoJ’s Ueda: Japan inflation likely to slow back below 2% in middle of current fiscal year FXStreet
- USD/JPY analysis: Yen strengthens on hot inflation figures FOREX.com US
Reading Insights
Total Reads
0
Unique Readers
10
Time Saved
4 min
vs 5 min read
Condensed
90%
873 → 87 words
Want the full story? Read the original article
Read on WOLF STREET