Japan’s inflation hits 40-year high as weak yen fans import costs

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Reuters UK

By Tetsushi Kajimoto TOKYO (Reuters) -Japan’s core consumer inflation accelerated to a 40-year high in October as a weak yen pushed up the cost of imported commodities, which were already surging due to global supply constraints. The data suggests Japanese firms may be shaking off their deflationary mindset as they gradually raise prices of everything from fuel to food while coming under pressure from cost-push inflation. The nationwide core consumer price index (CPI), which excludes volatile fresh food prices but includes energy, rose 3.6% year-on-year in October, versus a 3.5% rise expected …

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