“Consumer prices in Japan rose at an annual rate of 3.4% in May, the fastest pace in 32 years, as the effect of the sales tax hike from 5% to 8% started to be felt.  The price growth in May follows a 3.2% jump in April and is a big boost for Japan’s attempt to trigger inflation.  The country’s central bank has set a target of a 2% inflation rate.  The measures, which include boosting the country’s money supply, have started to have an impact and consumer prices in the country have now risen for 12 months in a row. Policymakers have been hoping that consumers and business will be encouraged to start spending and not hold back on purchases, as they may have to pay more later on.”

http://www.bbc.com/news/business-28031007

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