🇯🇵 Japan’s Core Inflation Rises to 3.7% in May — Highest Since January 2023
Japan’s core inflation rose to 3.7% in May, exceeding forecasts and marking the highest level since January 2023. The unexpected jump adds pressure on the Bank of Japan (BOJ) to reconsider its ultra-loose monetary policy and raise interest rates.
A key driver was the sharp 101.7% surge in rice prices over the past year, forcing the government to release emergency reserves to stabilize the market.
While headline inflation eased slightly to 3.5%, it has now remained above the BOJ’s 2% target for 38 consecutive months — signaling persistent price pressures in the Japanese economy.
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