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Japan inflation hits four-decade high in October

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By Katie Forster and Mathias Cena

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In reaction to the data, chief cabinet secretary Hirokazu Matsuno told reporters the government "must protect people's livelihoods from these price t the same time Kuroda does everything he can to have higher!

At the same time Kuroda does everything he can to have it higher! Absurd.

As for “inflation is transitory” US and Eurozone were saying the same. Now they find extremely hard to get it back in the box and they will probably fail.

Kuroda is playing with fire.

3 ( +11 / -8 )

That’s higher than during the bubble era. That’s why I recommend a new bubble economy with money helicopters to initiate. Then you have a flourishing economy instead, admitted with also a high inflation, but that will be healthy one, based on economic activities and that’s what we need here and now, a running economy that makes everyone happy and can easily afford inflation as well as the then not so much hurting paying back process of what had been needed for its initiation.

-5 ( +3 / -8 )

That’s why I recommend a new bubble economy with money helicopters to initiate.

It's called Bubble because it blasts, destroying all arround it.

Best course of action is to lower government spending and the national debt.

We need a serious reform of all the administrative institutions.

4 ( +7 / -3 )

I may have to buy the cheap beer soon which is getting as expensive as regular beer was. Other than that I am ok so far.

-4 ( +4 / -8 )

The sooner they get rid off Kuroda the better.

3 ( +10 / -7 )

Amazing! Leaving Japan might just as well be the best choice!

-4 ( +10 / -14 )

@Sven

"Helicopter money"?!

I still can't tell (and you didn't respond to my inquiry from a couple days ago)...

Giving people money to spend on things they did not produce so we can experience "healthy" inflation?!

You're joking right?

7 ( +8 / -1 )

The government needs to take care of the politicians first. Give them 50% raise then relax.

-7 ( +3 / -10 )

In reaction to the data, chief cabinet secretary Hirokazu Matsuno told reporters the government "must protect people's livelihoods from these price rises".

Then the LDP fatcats should cut people,s taxes or increase tax free thresholds instead of mucking around with 25 kg of free rice for low income households and similar gimicks.

-3 ( +7 / -10 )

Some other countries are dealing with double digit inflation. Japan has it better than most.

-2 ( +11 / -13 )

Just remember that the US has increasing wages, and increasing prices.

Japan does not have increasing wages.

So headline inflation being lower is no big comfort.

6 ( +16 / -10 )

Some other countries are dealing with double digit inflation. Japan has it better than most.

Except...

Core consumer prices excluding volatile fresh food rose 3.6 percent

If you include the "volatile fresh food", and why wouldn't you, since that's what people buy the most, it's probably as high or higher than those "some other countries." Food prices have easily increased by 10% during the last few months.

0 ( +8 / -8 )

I've noticed things going up, like milk is often over ¥200 and natto consideringly over ¥100...

I bet those prices aren't coming down any time soon either

0 ( +5 / -5 )

Europe is in even worst shape than Japan : much higher inflation, no wage increase either.

Wish Kuroda would change a bit his policy, with some 1% long-terme rate rather than his strict zero policy forever which gives freem money to the rich LDP families again and again.

-4 ( +5 / -9 )

Many food items are running at 25% or more-wages are not keeping pace and it is the poor that are suffering as food is a bigger part of the weekly/monthly spend than the well off!

2 ( +10 / -8 )

I bet those prices aren't coming down any time soon either

Not unless there is deflation. 0% inflation just means prices are not increasing, not that they are coming down.

-6 ( +2 / -8 )

Some other countries are dealing with double digit inflation. Japan has it better than most.

You mean like US Australia, Europe....yeah, those countries also have double the average wages Japan has. Japan fans always conveniently forget to mention that fact.

3 ( +13 / -10 )

McDonalds workers getting $22 per hour in California, Aussies make even more, so even though they do have high inflation, at least they have the salary to pay for it. Not like here, many people still making less than Y1000 per hour, and as the yen value keeps at such a low rate it really means they are earning close to Y750. Thanks Kuroda! Enjoy your big fat pension! You didn't deserve it!

0 ( +8 / -8 )

Yes indeed Inflation is real and it's beginning to bite, Amazon retailors prices are now more expensive the the neighborhood super markets and drug stores.

I was shocked to find out that the very same Items I normally order from Amazon are now much cheaper at the drug store near me, these guys must be out of control.

4 ( +5 / -1 )

My favorite Indian restaurant went out of business a few days ago (run by actual Indians, not Nepali)

I guess they simply couldn't afford to keep the lunch special price at 980 yen. Not surprised.

2 ( +5 / -3 )

Here is my advise, shop smart, buy only what you need, stop ordering on line, it is now cheaper to go go to your local supermarket, drug store, clothing stores, bakery and so on as I just found out, and it is FRESH most of all.

4 ( +5 / -1 )

RakurakuToday  04:57 pm JST

Kuroda does everything he can to have higher!*

What do you think will happen to the inflation IF Kuroda increased the rates? Yes, inflation would go even higher. So that is not a solution, just like it is not working anywhere else in the world except to bring more inflation as costs go up. Who do you think will pay the higher cost?

-10 ( +0 / -10 )

> What do you think will happen to the inflation IF Kuroda increased the rates? Yes, inflation would go even higher. So that is not a solution, just like it is not working anywhere else in the world except to bring more inflation as costs go up. Who do you think will pay the higher cost?

It is (among other reasons of course) because rates have been too low for too long everywhere that there is this inflation. Not the other way around. Moreover, in Japan, the very low rates lead to a fall in the JPY, which is also inflationary.

-6 ( +2 / -8 )

I think it should be called the Double bubble!

-3 ( +3 / -6 )

@gintonic No matter who is in office people will complain!

The sooner they get rid off Kuroda the better.

-2 ( +2 / -4 )

@MumbaiRocks! Why not buy beer at all if you are complaining its getting to expensive and you have to purchase cheap beer. If you are a connoisseur of beer why settle for something you don't want! Unless you have a dependency where you have to have that taste of barley.

I may have to buy the cheap beer soon which is getting as expensive as regular beer was. Other than that I am ok so far.

-3 ( +1 / -4 )

@ MumbaiRocks! Better yet stay off the beer its not good for your health! LOLOL

The government needs to take care of the politicians first. Give them 50% raise then relax.

-4 ( +1 / -5 )

fxgai:

Just remember that the US has increasing wages, and increasing prices.

Inflation has now been outpacing nominal wage growth for 18 months straight, meaning that Americans can afford less than they could a year ago, despite wages rising on paper. While average hourly earnings climbed 5.0 percent from $30.92 to $32.46 over the past 12 months, consumer prices soared 8.2 percent on a seasonally adjusted basis, resulting in a 3-percent decline in real hourly earnings. (Statista)

https://www.statista.com/chart/27610/inflation-and-wage-growth-in-the-united-states/

-4 ( +0 / -4 )

fxgai:

Just remember that the US has increasing wages, and increasing prices.

Inflation has now been outpacing nominal wage growth for 18 months straight, meaning that Americans can afford less than they could a year ago, despite wages rising on paper. While average hourly earnings climbed 5.0 percent from $30.92 to $32.46 over the past 12 months, consumer prices soared 8.2 percent on a seasonally adjusted basis, resulting in a 3-percent decline in real hourly earnings. (Statista)

https://www.statista.com/chart/27610/inflation-and-wage-growth-in-the-united-states/

-2 ( +1 / -3 )

Japan is sliding into a poor country.

-7 ( +3 / -10 )

Just be thankful the BoJ is not afraid of wage rises like elsewhere. If anything it's trying really hard to increase wages.

-5 ( +0 / -5 )

. If anything it's trying really hard to increase wages."

Sorry but wishful thinking and occasionally uttering " we would like to see wage rises " does not equal " trying really hard".

0 ( +3 / -3 )

Japan inflation hits four-decade high in October

Doing something wrong for sure, Japan.

Recent mishandling of the Covid crisis isn't helping much.

Look across the ocean to see how it is done correctly.

-6 ( +0 / -6 )

Better yet stay off the beer its not good for your health!

The era of Prohibition is over. I need at least one vice. I also saw the internet bubble where we thought prices would rise to infinity and the smaller bubble up to the Lehman shock. There will be a lot of bankruptcies and foreclosures on the horizon, and in Japan if they raise interest rates those families with ichi-oku yen housing loans paying 100,000 yen per month are going to bust a nut when the loan amount doubles or triples. As you may know housing loans in Japan are non-recourse and you cannot just walk away and declare bankruptcy like you can in other developed countries. Kuroda-san must have this in mind.

-3 ( +0 / -3 )

The Government is so wasteful.

First off, stop providing hand outs to people who don't actually live in the Country - simply because they may be registered at an address, the government should actually confirm that they are resident there for at least 180 days in the year. ... I know people who are using that loophole to milk the system.

Secondly, there's too much paper shuffling, and "bureaucrapcy" still in Japan, it's getting better, but not fast enough.

Thirdly, "corruption" wastage, needs to be handled properly - particularly when Politicians /Pubic Officials are involved. The Banks appear to have stringent rules in place to handle direct dealings with such people, but Companies in other Industries don't.

The cost of Policing protests should not be borne by the Public tax payer, but by those holding the protest. Take the Right Wingers driving around blaring very loud music, and playing recorded sounds of crowds shouting... particularly in the locations around foreign embassies - Korean, Chinese, etc. The Police have an agreement with them, to know when and what they're doing in advance, and therefore have hoards of Officers ready. But who's paying for that ? Its the Tax payer - the one who has no say in what this minority of people are trying to say. So turn the tables, make them, pay for the Policing. Such a Policy won't impact any individual who protests quietly without disruption. Of course, were the Government to adopt such a strategy, then we wouldn't need the number of Police Officers that we currently have... which is why some think, the Police pay the Right Wingers to keep doing what they do, in order to justify their own numbers...

The list could go on, and as such I simply wonder why there hasn't been an effective audit of the use of public funds, and the results of which are made available for all to read online... ?

2 ( +3 / -1 )

One of my local stores goes to the bother of showing the price increases, and in the majority of cases, much higher than the Government figures. 500ml Milk for example, has gone up by 14%...

3 ( +3 / -0 )

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