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Weak demand, cautious price-setting keeping Japan inflation low

by Mike Robinson

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© Reuters. FILE PHOTO. Masayoshi Amamiya, Bank of Japan Deputy Governor speaks at a Reuters Newsmaker Tokyo event on July 5, 2019, in Tokyo. REUTERS/Issei Kato

TOKYO (Reuters), — Inflation has been kept low by the Bank of Japan Deputy governor Masayoshi Amamiya on Tuesday. He said that Japanese households have a weak pent up demand, and businesses are more cautious in setting prices.

Amamiya stated that Japan’s overall demand was relatively low and that the shift from goods to services has been slow.

He stated, “Japan has not experienced a surge of goods prices like that observed in the United States,” in his opening remarks to an BOJ-hosted workshop attended by academics. This was to investigate structural factors behind Japan’s low inflation.

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