Japan’s import prices rose 24.8% year-on-year in October; Barclays says high energy costs may keep inflationary pressure persistent

(1) Data released by the Bank of Japan on Thursday showed that import prices in October rose by 24.8% year-on-year, compared to a 23.8% increase in September. (2) Barclays economists stated that renewed increases in crude oil prices pushed Japan's import prices higher in October, indicating that inflationary pressures from elevated energy costs may persist for some time; the trend of energy prices, influenced by the situation in the Middle East, has once again become significant. (3) In the short term, the impact of rising crude oil prices since July may be gradually transmitted and drive prices higher, mainly in the electricity and natural gas sectors.