Japan inflation rises to 3%, bolstering BOJ rate hike argument.

Japan's key inflation gauge rose to 3% in December, prompting expectations of a third rate hike by the central bank.

Yo, let me tell you something wild going down in Japan! The key inflation gauge just hit 3% for the first time in 16 months. This is big news, especially right before the central bank decided to raise rates for the third time under Gov. Kazuo Ueda.

According to the Internal Affairs Ministry, consumer prices, excluding fresh food, jumped 3% in December, up from 2.7% the month before. This spike was led by rising energy costs, with energy prices climbing a staggering 10.1% nationally. It's like they phased out those gas and electric subsidies and boom, everything's shot up! Tokyo’s already feeling the heat, and it's no surprise this reading matched what experts predicted. Stay tuned—this inflation wave ain't stopping anytime soon!

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