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Wholesale prices surge 9.1% in May; weak yen boosts import costs

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The prices of goods traded between companies marked the 15th straight month of increase, raising the likelihood of higher consumer prices that could hurt private consumption at a time when the economy has yet to fully recover from its pandemic malaise.

What Japanese govt do to solve this? Japanese govt just want to increase defense spending

https://www.japantimes.co.jp/opinion/2022/06/10/commentary/world-commentary/japans-defense-spending-2/g

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With the rainy season blighting retail sales for the next several weeks and increasing prices in the mix means that bankruptcies will spike up again.

More stimulus packages then…

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Wholesale price inflation accelerated in May to 9.1 percent from a year earlier, reflecting higher raw material prices and sharp declines in the yen that boosted import costs at a record pace, Bank of Japan data showed Friday.

Japan's mishandling of the Covid situation is really crushing its economy.

Time to let in 20,000 tourists from Asia.

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"If the yen depreciates further to 140 against the dollar, the weak yen impact will surpass 50 percent and the government and the BOJ would have to change its message that the recent bout of inflation is mainly because of higher energy prices," Suehiro added.

Don't worry. Weeks ago, did Mrs Watanabe already notice when doing the groceries...

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BOJ chief Haruhiko Kuroda on Wednesday retracted his remark that consumers had become "tolerant" of rising prices, after a backlash from opposition lawmakers and consumers.

It’s so pathetic.

This guy said he would achieve higher levels of inflation sustainably by 7 years ago. He failed but didn’t resign.

Now he is refusing to even stick to his guns about what consumers think of these wonderful higher prices the central planners had been waiting for.

He should have resigned 7 years ago already, and he should resign now if he can’t stick to the message anymore.

But unless he becomes a political liability for the LDP and they decide to change course on the ridiculous notion that trashing your currency is good for the economy, I guess he will ride out his term.

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