TOKYO : Japan's core consumer prices likely accelerated to a more than 41-year high in January, a Reuters poll of 19 economists showed, reflecting companies' will to raise prices while squeezing household purchasing power as wages lag cost-push inflation.Nationwide consumer prices index (CPI) data by the
TOKYO : Japan's core consumer prices likely accelerated to a more than 41-year high in January, a Reuters poll of 19 economists showed, reflecting companies' will to raise prices while squeezing household purchasing power as wages lag cost-push inflation.
The core CPI is set to reach 4.2 per cent in January versus the same month a year earlier, accelerating from December's 4.0 per cent, the poll showed. "Wholesale prices have likely peaked out reflecting adjustment in commodity markets and slowdown in import prices, with oil and coal products declining," said Takeshi Minami, chief economist at Norinchukin Research Institute.
Wholesale prices in January rose 9.5 per cent from a year earlier across items as varied as food, steel and chemicals, data showed last Friday. Such a rate is likely to keep the central bank under pressure to phase out its economic stimulus programme.
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