Japan’s Inflation Gauges Jump to Record High, Exceeding Wage Gains
Japan’s core inflation measures jumped to a record high, according to its central bank, the Bank of Japan (BoJ), on Aug. 23, as rising energy costs and a weak yen (owing to U.S. dollar strength) have forced Japanese businesses to pass their costs onto consumers, with several price gauges hitting new highs.
Inflation in Japan exceeded its central bank’s 2 percent target in July, putting Bank of Japan Governor Haruhiko Kuroda’s persistence with ultra-low interest rates under more scrutiny.
The trimmed mean—the measure of price growth that factors out the biggest gains in prices and losses—climbed 1.8 percent from 2021, according to the BoJ….