Japan's business-to-business services inflation picked up in February on a tourism rebound and rising labour costs, data showed, offering the central bank hope that steady wage hikes would aid in sustainably hitting its 2% inflation target.
With inflation already exceeding the 2% target due largely to rising raw material costs, the second consecutive monthly services acceleration may keep alive market expectations the Bank of Japan will eventually whittle down its massive stimulus under new governor Kazuo Ueda.
Hotel service fees spiked 30.1% in February from a year earlier as removal of COVID-19 restrictions boosted demand for inbound tourism, the data showed. "For services, the pass-through of rising costs isn't as smooth as those for wholesale goods," said Masato Higashi, head of the BOJ's price statistics division, told a briefing.The data came after top companies agreed to their largest pay increases in a quarter century in annualwith union earlier this month, a sign the country may be finally shaking off the public's sticky deflationary mindset.
The key will be whether smaller firms will follow their bigger rivals in hiking pay, and whether the rise in wages will be sustained next year, analysts say.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
GBP/JPY stretches recovery above 160.0 ahead of BoJ Kuroda’s speechThe GBP/JPY pair has extended its recovery above 160.00 in the Asian session. The cross has get strength after the release of the better-than-anticipa
Leer más »
Billlie announce their debut in Japan with 'GingaMingaYo (the strange world)' | allkpopK-Pop girl group Billlie is making their official debut in Japan later this year. On March 24, Billlie announced the release of their 1st…
Leer más »
Netflix Announces Series ‘Ooku: The Inner Chambers’ at Anime Japan EventNetflix has announced new series “Ooku: The Inner Chambers,” the first anime adaptation of a hit Japanese manga by Yoshinaga Fumi. At the ongoing Anime Japan convention in Tokyo, the streamer also …
Leer más »
Japan's Uno delights home crowd to retain world titleShoma Uno retained his men's figure skating world title with a stellar free skate on home ice on Saturday after Madison Chock and Evan Bates overcame a fall in their free dance to win their first ice dance world title.
Leer más »
Japan's Uno retains world title to delight home crowdShoma Uno retained his men's figure skating world title with a nerveless free skate on home ice on Saturday after Madison Chock and Evan Bates overcame a fall in their free dance to win their first ice dance world title.
Leer más »
This Is the Last Year for the Toyota Camry in JapanToyota sells the long-running sedan by the hundreds of thousands—but not in Japan, where its appeal has been on a steep decline.
Leer más »