Senior BOJ official says inflation likely to accelerate

Reuters conveying comments from an unnamed senior official at the Bank of Japan. ADDED - Comments are from head of the BOJ's monetary affairs department, Seiichi Shimuzu

So far the rise for input costs has not translated much at all to rising CPI (once energy is taken out).

Comments:

• Japan's consumer inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term likely to clearly accelerate due to rising energy, raw material costs
• Japan unlikely to see stagflation-like condition at which prices rise in tandem with contraction in economic growth
• Rising commodity, grain costs will push up energy, food prices short-term, hurt economy long-term via hit to household income, corporate profits
• Expect Japan's economy to recover on easing strain from pandemic on consumption, support from external demand

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The Monetary Affairs Department drafts policy options on interest rates and other matters to assist Gov. Haruhiko Kuroda and the rest of the policy board to decide on.