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MNI BRIEF: BOJ Jan Opinions: Japan's CPI May Near 2% By April

(MNI) Tokyo
TOKYO (MNI)

One Bank of Japan board member expects the core consumer price index to rise close to 2% in or after April, according to opinions released on Wednesday for the January policy meeting.

“From April 2022 onward, the year-on-year rate of change in the CPI may momentarily rise to a level close to 2% if the effects of the reduction in mobile phone charges dissipate and other factors simultaneously contribute to pushing up the CPI,” one member said, see: MNI STATE OF PLAY: BOJ Kuroda Rules Out Early Tightening.

“In such a case, it will become important to analyze what lies behind this inflation and whether it turns out to be sustainable.”

A separate member saw "a possibility that the year-on-year rate of change in the CPI will reach around 1.5% temporarily in the first half of 2022” and was joined by other members in noting wage inflation was the key for any sustained momentum.

MNI Tokyo Bureau | +81 90-2175-0040 | hiroshi.inoue@marketnews.com
MNI Tokyo Bureau | +81 90-2175-0040 | hiroshi.inoue@marketnews.com

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