Japan’s Consumer Inflation Hits 41-year High, Keeps BOJ Under Pressure

Japan’s Consumer Inflation Hits 41-year High, Keeps BOJ Under Pressure
Shoppers check food items at a supermarket in Tokyo, Japan, on Jan. 20, 2023. Issei Kato/Reuters
Reuters
Updated:

TOKYO—Japan’s core consumer inflation hit a fresh 41-year high in January as companies passed on higher costs to households, data showed on Friday, keeping the central bank under pressure to phase out its massive stimulus program.

The data underscores the dilemma policymakers face as soaring prices of fuel and daily necessities hit households, many of whom have yet to see wages rise enough to make up for the higher cost of living.