News On Japan

Japanese consumer prices rose a sluggish 0.9% in 2018

Jan 19, 2019 (Japan Times) - Consumer prices rose a sluggish 0.9 percent last year, according to government data published Friday, as the world’s third-largest economy continues its yearslong battle to stoke weak inflation.

The annual figure is far below the central bank’s inflation target of 2 percent and comes as the Bank of Japan is reportedly preparing to revise its inflation forecast downward next week.

The BOJ will lower its inflation forecast for the year to March 2020 to about 1 percent from the current estimate of 1.4 percent in its quarterly report, reflecting falls in crude oil prices, local media have reported.

This would be the latest in a string of downward revisions. In October, the central bank also lowered its inflation forecasts, in the latest sign it had failed to make headway toward its 2 percent target despite years of massive monetary easing.

Japan has battled sluggish inflation for many years and the central bank’s ultraloose monetary policy appears to have had limited impact.

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Large Typhoon No. 25 was moving northwest over waters south of Japan at 3 p.m. on September 19 and is forecast to strengthen as it approaches Kanto and the Izu Islands from September 20 through September 21, bringing the risk of torrential rain, violent winds and further damage in areas still recovering from last year's typhoon.

A black bear has been spotted near one of the most popular hiking trails on Mount Takao in western Tokyo, prompting authorities to urge visitors to take precautions ahead of the five-day Silver Week holiday and the approaching autumn foliage season.

Starbucks is considering selling a majority stake in its Japanese business, potentially valued at as much as $3 billion, or about 470 billion yen, as the U.S. coffee chain seeks to concentrate management resources on its struggling North American operations.

Japan's Halloween Jumbo Lottery went on sale nationwide on September 16, offering a combined top payout of 400 million yen for the first prize and its adjacent-number prizes.

A new top-tier "Supreme Class" offering fully private compartments above the level of Green Car service will debut on the Tokaido and Sanyo Shinkansen on October 1, with passengers able to experience the new seating at a demonstration booth at Shin-Osaka Station.

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The number of people aged 100 or older in Japan has exceeded 100,000 for the first time, reaching a record 107,677 as of September 1, according to the Ministry of Health, Labor and Welfare.