Japan's Scrapping of Utility Subsidies to Push Inflation Higher [Yahoo! Finance]
NOMURA RSRCH UNSP/ADR (NRILY)
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Source: Yahoo! Finance
Most Read from Bloomberg Tesla's $25,000 Car Means Tossing Out the 100-Year-Old Assembly Line Bankman-Fried Is Sentenced to 25 Years in Prison Over FTX Collapse UBS Banker's Frustration Exposes Cracks in World of Climate Finance Apple Plans New iPad Pro for May as Production Ramps Up Overseas Dubai Is Losing Its Allure for Wealthy Russians The government will end its subsidies on electricity and gas charges at the end of May while keeping its gasoline measures in place for the time being, economy minister Ken Saito said Friday. The announcement comes after data earlier in the day showed prices in Tokyo, a leading indicator of the national trend, rose at a slightly slower pace of 2.4% in March. Read more: Tokyo Inflation Slowdown Won't Knock the BOJ Off Rate Hike Path The end of the utility subsidies will likely push up the nation's key inflation gauge by half a percentage point between May and July, economists say, with an increase in renewable energy-related levies a
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