Japan Still Sees Inflation Staying Below 2% Next Fiscal Year
This article is for subscribers only.
Japan’s government still sees overall inflation remaining below the Bank of Japan’s 2% price target next fiscal year, despite accelerating price gains this year.
The country expects price gains including fresh food to be 1.7% in the fiscal year 2023, unchanged from its mid-year estimate, according to Cabinet Office forecasts released Thursday. Expectations that inflationary pressures will peak out, and government measures to cut energy bills next year will cap prices were behind the forecast, according to a cabinet office official.