Data published Thursday by the BANK OF JAPAN showed import prices rose 24.8% YoY
in October, versus 23.8% in September. Barclays economists said renewed crude
strength pushed up October import prices, implying energy-driven inflationary
pressure may persist for some time. Middle East developments have made
energy-price dynamics important again. In the near term, the impact of crude
gains since July could transmit with a lag and further push up prices,
Concentrated in electricity and natural gas.