Japan’s Nikkei 225 index briefly surpassed 41000, reaching a new all-time high on Friday 22nd March 2024, as the nation’s inflation rate reportedly accelerated in February 2024. Other Asia-Pacific markets experienced declines.
The headline inflation rate in Japan for February 2024 was reported at 2.8%, an increase from the 2.2% recorded in January 2024. The core inflation rate, which excludes the cost of fresh food, also rose to 2.8% from the 2% reported the previous month.
In its monetary policy statement, the Bank of Japan (BoJ)stated that it aims to achieve the price stability target of 2% in a sustainable and stable manner.
The Nikkei retreated to close just below 41000, ending up at 40888
