{"id":22172,"date":"2023-04-25T03:06:41","date_gmt":"2023-04-25T03:06:41","guid":{"rendered":"http:\/\/lynettelockhart.com\/client\/japans-business-services-inflation\/"},"modified":"2023-04-25T03:09:01","modified_gmt":"2023-04-25T03:09:01","slug":"japans-business-services-inflation","status":"publish","type":"post","link":"http:\/\/lynettelockhart.com\/client\/japans-business-services-inflation\/","title":{"rendered":"Japan’s business services inflation hits 8-year high in fiscal 2022"},"content":{"rendered":"

TOKYO (Reuters) – Japan’s business-to-business service inflation hit an eight-year high in the fiscal year that ended March, data showed on Tuesday, a sign inflationary pressure was broadening beyond goods reflecting a tight job market and solid domestic demand.<\/p>\n

The data may keep alive market expectations that new Bank of Japan (BOJ) Governor Kazuo Ueda will phase out the bank’s massive stimulus programme in coming months.<\/p>\n

The services producer price index, which measures the prices companies charge each other for services, rose 1.8% in fiscal 2022, higher than a 1.2% increase in the previous year, BOJ data showed on Tuesday. It was the fastest pace of increase since fiscal 2014, when it rose 3.3%.<\/p>\n

In March, the index rose 1.6% from a year ago, marking the 25th straight month of year-on-year increase, the data showed. It followed a revised 1.7% gain in February.<\/p>\n

The gain in March was driven largely by a rebound in inbound and domestic tourism with hotel fees up 32.4% from a year earlier, reflecting the government’s removal of COVID-19 curbs, the data showed.<\/p>\n

The data came after top companies agreed to their largest pay increases in a quarter century in annual labour talks with unions in March, a sign the country may be finally shaking off the public’s sticky deflationary mindset.<\/p>\n

\n

(Reporting by Leika Kihara; Editing by Sam Holmes)<\/p>\n

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TOKYO (Reuters) – Japan’s business-to-business service inflation hit an eight-year high in the fiscal year that ended March, data showed on Tuesday, a sign inflationary pressure was broadening beyond goods reflecting a tight job market and solid domestic demand. The data may keep alive market expectations that new Bank of Japan (BOJ) Governor Kazuo Ueda […]<\/p>\n","protected":false},"author":8,"featured_media":22175,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":""},"categories":[1216],"tags":[1223],"class_list":["post-22172","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-u-s-economy","tag-updated"],"jetpack_featured_media_url":"http:\/\/lynettelockhart.com\/client\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportBusinessNews\/tagreuters.com2023binary_LYNXMPEJ3O02J-VIEWIMAGE.jpg","_links":{"self":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/22172","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/comments?post=22172"}],"version-history":[{"count":2,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/22172\/revisions"}],"predecessor-version":[{"id":22176,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/22172\/revisions\/22176"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media\/22175"}],"wp:attachment":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media?parent=22172"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/categories?post=22172"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/tags?post=22172"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}