Japan's inflation hits 40-year high as weak yen fans import costs

From channelnewsasia.com

Japan's core consumer inflation accelerated to a 40-year high in October as a weak yen pushed up the cost of imported commodities, which were already surging due to global supply constraints. The data suggests Japanese firms may be shaking off their deflationary mindset as they gradually raise prices of everything from fuel to food while coming under pressure from cost-push inflation. The nationwide core consumer price index (CPI), which excludes volatile fresh food prices but includes energy, rose 3.6 per cent year-on-year in October, versus a 3.5 per cent rise expected by economists, and accelerating from the prior ... (full story)