When the Nation’s Consumer Price Index was released the following Thursday, it indicated that Japan’s Annual inflation has increased by a noteworthy 0.3% over the previous month’s print. Sadly, inflation’s closing in on Kuroda’s target did not seem to encourage Japanese consumer sentiment. Alongside with the publishing of the CPI, May’s Household Spending presented an 8% annual contraction, versus merely 4.6% in April.
Monday 30 June 2014
Abenomics is not going as planned
Last week presented a good opportunity to review the implications of Japanese Prime Minister Shinzō Abe's ultra-expansionary monetary policies. On Monday, the Nation's Central Bank Governor, Kuroda, addressed Japan's Association of Corporate Executives, noting that Japanese inflation currently sits at 1.5%, when adjusting for price increases stemming from April's consumption tax hike. Kuroda expressed hope that rising inflation would push individuals towards higher expenditure levels as he stressed that "we need to achieve a world in which people engage in economic activities based on the assumption that two percent inflation is a given".
When the Nation’s Consumer Price Index was released the following Thursday, it indicated that Japan’s Annual inflation has increased by a noteworthy 0.3% over the previous month’s print. Sadly, inflation’s closing in on Kuroda’s target did not seem to encourage Japanese consumer sentiment. Alongside with the publishing of the CPI, May’s Household Spending presented an 8% annual contraction, versus merely 4.6% in April.
When the Nation’s Consumer Price Index was released the following Thursday, it indicated that Japan’s Annual inflation has increased by a noteworthy 0.3% over the previous month’s print. Sadly, inflation’s closing in on Kuroda’s target did not seem to encourage Japanese consumer sentiment. Alongside with the publishing of the CPI, May’s Household Spending presented an 8% annual contraction, versus merely 4.6% in April.
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