Japan’s inflation surged to its fastest pace since June 2023, driven mainly by rising food prices. The country’s key consumer price gauge rose 3.2% year-over-year in January, exceeding expectations. Processed food costs, particularly rice, saw a record jump of 70.9%. This acceleration keeps the Bank of Japan on track to hike interest rates further, as it struggles to combat inflation.
Source: https://www.bloomberg.com/news/articles/2025-02-20/japan-s-inflation-accelerates-keeping-boj-on-track-to-hike-more