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Economics
Inflation & Prices

Japan Inflation Hits Four-Decade High in Test of BOJ Resolve

  • Pricier processed food outweighs energy impact as gains spread
  • Kuroda sticks to view that core CPI will cool below 2% next FY
Price gains have now exceeded the Bank of Japan’s 2% price target for seven straight months.

Price gains have now exceeded the Bank of Japan’s 2% price target for seven straight months.

Photographer: James Whitlow Delano/Bloomberg
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Japan’s inflation hit its fastest clip in 40 years in October, an outcome that further stretches the credibility of the central bank’s view that continued stimulus is needed to secure stable price growth.

Consumer prices excluding fresh food climbed 3.6% in October from a year ago, the internal affairs ministry said Friday.