Posted 11/28/2023, 12:23:26 PM
Japanese Inflation Hits 40-Year High as Price Pressures Broaden
- Japanese inflation gauge hits record high of 2.2% in October, indicating broadening price pressures
- Data adds to signs of sustained wage increases leading firms to hike prices, needed for BOJ to exit stimulus
- BOJ remains globally dovish despite core inflation over its 2% target for over a year
- Positive signs in wages and inflation but high uncertainty if it will strengthen, per BOJ Governor
- Indications that labor tightness and cost pressures will persist into next year's key spring wage talks