World Trade

A Reuters survey predicts that Japan’s consumer inflation will reach a new four-decade high in November.

According to a Reuters survey, Japan’s overall consumer price inflation reached a new 40-year high in November as corporations progressively passed on rising energy, food, and raw material costs to people.

According to the poll, November’s core consumer price index (CPI), which excludes volatile fresh food prices but includes energy, would likely show a 3.7% year-over-year increase.


That would be above the prior month’s yearly increase of 3.6% and the largest increase since December 1981’s 4.0%.

While the rate of increase in energy prices is slowing, corporations are passing on greater costs to consumers more broadly, according to economists at the Dai-ichi Life Research Institute, who added that firms were passing on higher costs to consumers in general.

Related: Japan’s stock market is up at the end of the day; the Nikkei 225 is up 0.40.

The government will issue the CPI figures on December 22 at 23:30 GMT.

The Bank of Japan (BOJ) has resisted joining a worldwide trend of aggressively raising interest rates and has maintained its ultra-easy monetary policy despite price pressures that are particularly burdensome for those with low incomes.

At its next policy meeting on December 19 and 20, the BOJ is expected to keep its short-term interest rate target at -0.1% and its promise to keep 10-year government bond yields around 0%.



Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button