2024-03-22 01:46:31 ET
- Japan's Nikkei 225 reached a new all-time high of 41,000 on Friday due to rising inflation in February. The headline and core inflation rates in Japan both rose to a four-month high of 2.8% in February, supporting the Bank of Japan’s decision to end negative interest rates.
- The annual inflation rate in Japan climbed to 2.8% in February 2024 from 2.2% in the prior month, pointing to the highest figure since last November.
- The core inflation rate jumped to a four-month top of 2.8% in February from 2.0% in January, matching market forecasts while coming at or above the central bank’s 2% target for 23 straight months.
- The core consumer price index in Japan, which excludes fresh food but includes fuel costs, rose 2.8% Y/Y in February 2024, accelerating from a 2% gain in January and posting the highest reading since October.
- Food prices in Japan rose by 4.8% from a year earlier in February 2024, easing from a 5.7% increase in the previous month and marking the softest gain since September 2022.
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Nikkei 225 ( NKY:IND ) jumped 0.5% to above 41,006 on Friday, with Japanese shares scaling new all-time highs as investors reacted to the latest inflation report.
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( USD:JPY ) is trading at 151.541.
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Japan's trade deficit shrinks more than expected amid robust U.S., China demand
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Japan's manufacturing activity rises to 48.2 in March; services PMI increased to 54.9
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Japan's central bank hikes interest rate after 17 years, scraps yield curve control
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Japan's industrial output falls 6.7% in January, less than an initial estimate
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Japanese shares hit all-time high after inflation accelerates in Feb to four-month high