Japan’s prices are showing further signs of rising on a wider basis as soaring commodity prices and a weak yen force companies to pass higher costs onto consumers at a pace not seen in decades.
Multiple gauges of the deeper inflation trend hit record highs in June, according to data released by the Bank of Japan on Tuesday. The trimmed mean, a measure of price growth that factors out the biggest gains and falls, rose 1.6% from a year earlier. That’s the fastest rate of increase in data back to 2001, according to the bank.
The weighted mean, a measure of prices that gives more importance to key items, also reached a fresh record. Meanwhile, the share of increasing items in the consumer price basket rose to 71.3%, the highest proportion on record.