Inflation rose to 4.3% in January, the highest value since 1981 (December: 4.0%). Meanwhile, core inflation rose to 4.2% (December: 4.0%). Our panelists see inflation falling below the BoJ’s 2.0% target in Q3 2023, given that the recent spike in inflation is largely due to cost-push factors. That said, the ongoing shunto wage negotiations pose an upside risk.
Japan TONAR (%, eop) Data
|TONAR (%, eop)||-0.06||-0.06||-0.07||-0.03||-0.02|