As the global economy takes steps to recover from the pandemic, prices have steadily risen around the world, with US CPI hitting a 31-year high of 6.2% year on year in October. Japan, however, remains an exception among the major economies. The country's headline CPI did tick up in October, but at a very modest pace of 0.1% year on year from the previous year, showing that inflation is yet to gain strong traction in a country long stuck in deflation.
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