Japan’s Import Surge Points to Fallout for Households

The ongoing surge in Japanese imports is clearly bad news for households in the world’s third largest economy, but across the world similar repercussions are likely to be felt by consumers as the war in Ukraine continues.

Following the jump in crude oil and liquefied natural gas prices, the value of inbound shipments to Japan soared 34% in February from a year ago, bringing the streak of double-digit gains to 11 months. Meanwhile, the volume of imports fell 0.9%, backing up the fact that inflation, rather than consumer demand, is driving the change.