Bloomberg (June 8)
2022/ 06/ 10 by jd in Global News
“It’s not like inflation is out of control in Japan. Far from it. Consumer prices rose 2.1% in April from a year earlier, finally reaching the BOJ’s target.” Nevertheless, “after a generation of ultra-low prices, Kuroda may not have appreciated how hard it is for Japanese to embrace something they haven’t had to deal with.” In April, fresh fish and vegetables rose by 12%, “including a nearly 100% increase in the cost of onions. Talk about eye watering.” The BOJ has worked for nearly three decades “to crank up inflation from dangerously low levels. How galling that Japan may not even want it.”
Tags: BOJ, Consumer prices, Dangerously low, Eye watering, Fish, Galling, Inflation, Japan, Kuroda, Onions, Vegetables
