BOJ member says price hikes may be more widespread than expected

Politics Economy

A Bank of Japan board member said Wednesday a recent push by companies to pass on higher costs to consumers may gain greater traction than expected, with price hikes spreading more widely in Japan. BOJ Policy Board member Toyoaki Nakamura told a virtual meeting of business leaders in Yamanashi Prefecture, central Japan, that the country is expected to see core consumer inflation accelerate toward the central bank's 2 percent target, helped by a "moderate" price pass-through. Still, he also acknowledged uncertainty remains over corporate price-setting behavior, warning higher raw material costs...

Kyodo News

Kyodo News Bank of Japan