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The Kobeissi Letter @KobeissiLetter on x 950.5K followers
Created: 2025-06-20 16:45:14 UTC
Inflation in Japan is HOT:
Japan's CPI inflation excluding fresh food accelerated to +3.7% year-over-year in May, the fastest pace since January 2023.
This marks the 6th consecutive monthly reading at or above 3%+.
Rice prices surged a whopping +102% year-over-year, driving overall food inflation.
Service prices, a gauge closely watched by the Bank of Japan, increased +1.4%, above the +1.3% seen in April.
As a result, Japan’s inflation rate has now been at or above the BoJ’s X% target for over X years.
The BoJ likely has no option but to raise interest rates in July.
Japan has an inflation issue.
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