The Bank of Japan keep telling us that they view above target inflation as transitory.
Firms surveyed in the Bank of Japan Tankan price expectations survey completely disagree. The BOJ June Tankan Corporate Price Expectations survey reports that
Japanese firms expect
- Consumer prices to
rise 2.6% a year from now vs +2.8% in the previous survey - Expect consumer
prices to rise an annual 2.2% 3 years from now vs +2.3% in prev
survey - Japan firms expect
consumer prices to rise an annual 2.1% 5 years from now vs +2.1% in
prev survey
More on the Tankan is here:
And, background here: