If you see a 70% Japan rate hike headline, relax, its not what you think
The firms citing labor shortage and "exploding package volume"
For large-volume customers, 12% of shippers said they have already raised rates
- Another 20% said they are set to raise rates
- 36% are considering it
- Some 55% say they will raise prices by an average of about 10%, while hikes at 36% will be smaller than that
Yesterday in the Q1 GDP numbers from Japan the inflation indicator was negative, so its too soon to herald this sort of news as a sign of inflation in Japan, but maybe its something for the BOJ to grasp hold of.
GDP Deflator y/y, preliminary -0.8%