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The case of Japan’s curiously quiescent inflation rate
source link: https://www.economist.com/finance-and-economics/2021/11/20/the-case-of-the-curiously-quiescent-inflation-rate
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Land of the falling priceThe case of Japan’s curiously quiescent inflation rate
As consumer prices rise across much of the world, inflation in Japan stays stubbornly low
INFLATION IS SURGING around the world, with price rises now exceeding central banks’ targets. But Japan is a notable holdout. Although policymakers there have long sought to generate inflation, consumer prices still refuse to budge. In September they rose by just 0.2% year-on-year, and inflation, excluding fresh food and energy prices, actually fell by 0.5% in the same period. Analysts at Goldman Sachs, a bank, expect that measure to fall to -0.8% in the latest data, which was due to be published after this was written. By comparison, a “core” measure rose by 4.6% in America in October, 3.4% in Britain and 2.9% in Germany (see chart).
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