Japan’s consumer prices cease their 13-month fallBloombergJapan’s consumer prices stopped falling last month for the first time in 13 months, ending the country’s longest deflationary stretch since 2011. Rising costs for hotels, processed food and energy cushioned the impact of mobile phone rates that have fallen sharply under pressure from outgoing Japanese Prime Minister Yoshihide Suga. “At least we can say prices aren’t falling, so the BOJ can continue to keep a close eye on it, without taking additional easing steps,” NLI Research Institute economist Taro Saito said. While producer prices have jumped, climbing 5.5 percent last month, most Japanese firms aren’t choosing to pass those costs on to customers. Global supply-chain snags and surging commodities prompted the Paris-based Organisation for Economic Co-operation and Development this week to raise its forecast for consumer price inflation this year and next in every G7 country, except Japan.

Source: Taipei Times September 24, 2021 15:56 UTC