UBS On-Air: Paul Donovan Daily Audio 'What might be weakening demand'

Japan’s October consumer price inflation was in line with the majority of economists’ forecasts. The (international) core measure was 1.5 percent year over year, but that reflects some very weak inflation in October 2021. Japanese consumers have been more moderate in their demand than those of the US, the UK, and Europe, preventing the profit margin expansion that has broadened inflation elsewhere.