{"id":1647747,"date":"2022-09-19T20:49:46","date_gmt":"2022-09-20T00:49:46","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1647747"},"modified":"2022-09-19T20:50:53","modified_gmt":"2022-09-20T00:50:53","slug":"japans-aug-consumer-inflation-hits-near-8-year-high","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/japans-aug-consumer-inflation-hits-near-8-year-high\/","title":{"rendered":"Japan\u2019s Aug consumer inflation hits near 8-year high"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">16<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fjapans-aug-consumer-inflation-hits-near-8-year-high%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1647747&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>By Leika Kihara and Takahiko Wada<\/p>\n<p>TOKYO (Reuters) -Japan\u2019s core consumer inflation quickened to 2.8% in August to hit the fastest annual pace in nearly eight years, data showed on Tuesday, as pressures from higher raw material costs and a weak yen broadened.<\/p>\n<p>While core consumer inflation has exceeded the central bank\u2019s 2% target for five straight months, the Bank of Japan (BOJ) is unlikely to raise interest rates any time soon as wage and consumption growth remain weak, analysts say.<\/p>\n<p>The data highlights the dilemma the BOJ faces as it tries to underpin a fragile economy by maintaining ultra-low interest rates, which in turn are fuelling an unwelcome slide in the yen that is driving up households\u2019 cost of living.<\/p>\n<p>The rise in the nationwide core consumer price index (CPI), which excludes volatile fresh food but includes fuel costs, was slightly bigger than a median market forecast for a 2.7% increase and followed a 2.4% gain in July. It was the fastest pace of rise since October 2014.<\/p>\n<p>The so-called \u201ccore core\u201d index, which strips away both fresh food and energy costs, rose 1.6% in August from a year earlier, accelerating from a 1.2% gain in July and marking the fastest annual pace since 2015.<\/p>\n<p>The core core index is closely watched by the BOJ as a gauge on how much of the inflationary pressure is driven by domestic demand.<\/p>\n<p>Headline inflation hit 3.0% in August, the highest since 1991, underscoring the pain consumers are suffering from rising living costs.<\/p>\n<p>\u201cHeadline inflation jumped in August to yet another high since 1991 and it still has a stretch higher to climb. That said, the Bank of Japan will remain steadfast in maintaining its ultra-easy monetary policy,\u201d said Darren Tay, Japan economist at Capital Economics.<\/p>\n<p>Once welcomed for giving exports a boost, the yen\u2019s weakness has become a headache for Japanese policymakers because it hurts retailers and consumers by inflating the already rising prices of imported fuel and food.<\/p>\n<p>The world\u2019s third-largest economy expanded an annualised 3.5% in the second quarter, stronger than the preliminary estimate. But its recovery has been slower than many other countries as a resurgence in COVID-19 infections, supply constraints and rising raw material costs weighed on consumption and output.<\/p>\n<p>While inflation is still modest compared with many other advanced nations, a global slowdown and high energy prices are clouding the outlook. The BOJ has pledged to keep interest rates ultra-low and remain an outlier in a global wave of monetary policy tightening.<\/p>\n<p> (Reporting by Leika Kihara and Takahiko WadaEditing by Kim Coghill &#038; Shri Navaratnam)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/japans-aug-consumer-inflation\/file-photo-people-make-their-way-at-ameyoko-shopping\/\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/09\/tagreuters.com2022binary_LYNXMPEI8I0ZA-BASEIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI8I0ZA-BASEIMAGE\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Leika Kihara and Takahiko Wada TOKYO (Reuters) -Japan\u2019s core consumer inflation quickened to 2.8% in August to hit the fastest annual pace in nearly eight years, data showed on<\/p>\n","protected":false},"author":66,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1647747","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1647747","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1647747"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1647747\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1647747"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1647747"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1647747"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}