Japan Hangs On As Inflation Rises…

Japan’s core consumer inflation rose more than expected to a near eight-year peak in August, data showed on Tuesday, as heightened raw commodity costs and a depreciating yen continued to batter the economy with rising price pressures.

The national core consumer price index, which excludes the price of fresh food but includes energy, rose 2.8% in August, compared to a 2.4% rise in July, data from the Statistics Bureau showed. The figure also came above estimates for growth of 2.7%.

Overall nationwide CPI rose 3% in August, more than July’s reading of 2.6%, and also at an eight-year high.

The reading marks the fifth straight month that inflation has trended above the Bank of Japan’s (BoJ) 2% annual target rate and reflects continued headwinds for the world’s third-largest economy.

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  1. On a slightly unrelated note; I heard about an interesting Business Insider Article from August, the 29th about how Russian Sanctions are unexpectedly working. Seems interesting. I thought you might like to look into it.
    Richard Wolff talks about it in his most recent Economic Update video (19th of September).

  2. The whole world will suffer from the BS virus and the lockdowns , the world economy is stuffed and this is just the beginning , but that's what the politicians wanted , The Socialist system ?.

  3. Mr North was incorrect when he said this episode is of a distinctly unique Australian flavor. It's more closely a distinctly Japanese flavor as there was little reference to shrimp on the Barbie.

  4. And I guess, those of us who were watching this channel a couple of years ago or more and watched your repo scandal reports are wondering how we are going to hold these scoundrels to account? Otherwise, I expect the remedy to our current crises will be digital bug rations and sustainable credit system for us, while the incompetent at best financial "elite" who, arguably, got us into this global mess now get to roll out their global solutions? Are we going to just sit here while more power is transferred to these trans-national entities or, and I know it is a huge ask, are we going to start talking to interesting people and applying the power of 624 OOO (that's well over half a million, folks) subscribers?
    Much as we appreciate your regular guests, isn't it time to invite some real movers and shakers to the party? Politicians (don't suppose Mr Barwick has any interesting political friends, or is it just him and the lady with the bun and a somewhat moribund cellist? Whistleblowers? Surely there must be real movers and shakers out there who wish to join the conversation? Who think we can do more than just sit back passively shaking our heads at the grim statistics as the world goes to hell in a handbasket?

  5. Is Japan the 3rd largest economy? I am surprised. I feel that they are not the 3rd richest country, though. The majority people work extremely long hours, but the average income is about A$40,000. Wage does not increase much, but energy and grocery costs have risen dramatically.

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