Inflation in Japan is fast spreading to the largest share of items in two decades as the Bank of Japan waits for wage growth to accompany a rise in prices.
The proportion of items that saw price gains in Japan’s core consumer price basket climbed to 69.2% last month, the most in data going back to January 2001, according to a release from the central bank published Tuesday.
The result is unlikely to persuade Gov. Haruhiko Kuroda to change his easing stance. He’s repeatedly insisted that the current input-cost driven inflation needs to first turn more sustainable, backed by wage growth and a recovery from the pandemic.