Japan April inflation data, still soaring.
- headline is 3.5%
- core (excluding fresh food) is 3.4%
- core-core (excluding food and energy) is a stonking 4.1%
Core-core is the closest to the US measure of core inflation.
As we all know and have repeated, the Bank of Japan insists that the current high rates of inflation are cost-push and thus expect them to begin to drop away from around September/October this year. The insistence that inflation is transitory didn't work out for the Fed and many, many other DM central banks. Maye this time its different?
