{"id":27909,"date":"2017-11-13T07:14:49","date_gmt":"2017-11-13T12:14:49","guid":{"rendered":"http:\/\/olduvai.ca\/?p=27909"},"modified":"2017-11-13T07:14:49","modified_gmt":"2017-11-13T12:14:49","slug":"us-to-import-inflation-from-japan-china-south-korea","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=27909","title":{"rendered":"US to Import Inflation from Japan, China, South Korea"},"content":{"rendered":"<header>\n<h3 class=\"entry-title\"><a href=\"https:\/\/wolfstreet.com\/2017\/11\/12\/us-imports-inflation-from-japan-china-south-korea\/\">US to Import Inflation from Japan, China, South Korea<\/a><\/h3>\n<\/header>\n<div class=\"entry-content\">\n<p><strong>Even from Japan \u2013 whose export producer prices are soaring.<\/strong><\/p>\n<p>The oil price collapse that started in 2014 pushed down input costs that companies \u2013 the \u201cproducers\u201d \u2013 faced. And producer price indices, which measure inflation further up the pipeline, plunged. But this is over. And the biggest export powerhouses in Asia that have ballooning trade surpluses with the US, show how.<\/p>\n<p>The Producer Price Index in Japan \u2013 the \u201cCorporate Goods Price Index,\u201d as it\u2019s called there \u2013 jumped 3.4% in October compared to a year ago, after already climbing an upwardly revised 3.1% in September, the <a href=\"https:\/\/www.boj.or.jp\/en\/statistics\/pi\/cgpi_release\/cgpi1710.pdf\" target=\"_blank\" rel=\"noopener\">Bank of Japan<\/a> reported on November 13. It was the tenth month in a row of year-over-year gains and the highest annual rate since September 2014, by which time the collapsing energy prices were mopping up any inflationary pressures (chart via <a href=\"https:\/\/tradingeconomics.com\/\" target=\"_blank\" rel=\"noopener\">Trading Economics<\/a>):<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-36807\" src=\"https:\/\/wolfstreet.com\/wp-content\/uploads\/2017\/11\/Japan-PPI_2017-10.png\" alt=\"\" width=\"512\" height=\"260\" \/><\/p>\n<p>On a monthly basis, the index rose 0.3% from September. But excluding \u201cextra charges for summer electricity,\u201d the index jumped 0.6% month-over-month.<\/p>\n<p>The biggest movers: Nonferrous metals prices soared 22.4% year-over-year, petroleum and coal products 15.8%, iron and steel 9.7%, and chemicals and related products 3.6%.<\/p>\n<p>On the negative side of the ledger there wasn\u2019t much activity: prices for electrical machinery and equipment edged down -1.1%, for business oriented machinery -0.4%, and production machinery -0.3%.<\/p>\n<p>Export prices in October jumped 9.7% year-over-year in yen terms and 3.8% in contract-currency terms. Export prices of Metals and related products soared 25.8% in yen terms and 17.7% in contract-currency terms. Chemical and related produces soared 16.3% and 11.8% respectively. Other primary products and manufactured goods prices jumped 10.3% and 4.2%. All three of them soared in double-digit percentages just from September!<\/p>\n<div class=\"entry-content\">\n<p>Japan has exported $101 billion in goods to the US so far this year.<\/p>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>US to Import Inflation from Japan, China, South Korea Even from Japan \u2013 whose export producer prices are soaring. The oil price collapse that started in 2014 pushed down input costs that companies \u2013 the \u201cproducers\u201d \u2013 faced. And producer price indices, which measure inflation further up the pipeline, plunged. But this is over. And [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[130,426,452,1775,740,16995,4254,4255],"class_list":["post-27909","post","type-post","status-publish","format-standard","hentry","category-economics","tag-china","tag-inflation","tag-japan","tag-oil-price-collapse","tag-south-korea","tag-united-stated","tag-wolf-richter","tag-wolfstreet"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/27909","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=27909"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/27909\/revisions"}],"predecessor-version":[{"id":27910,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/27909\/revisions\/27910"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=27909"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=27909"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=27909"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}