Firms surveyed by BOJ expect CPI to be still above the Bank's 2% target in 1, 3 & 5 years

The Bank of Japan keep telling us that they view above target inflation as transitory.

Firms surveyed in the Bank of Japan Tankan price expectations survey completely disagree. The BOJ June Tankan Corporate Price Expectations survey reports that Japanese firms expect

• Consumer prices to rise 2.6% a year from now vs +2.8% in the previous survey
• Expect consumer prices to rise an annual 2.2% 3 years from now vs +2.3% in prev survey
• Japan firms expect consumer prices to rise an annual 2.1% 5 years from now vs +2.1% in prev survey

More on the Tankan is here:

• BOJ Q2 Tankan improves from Q1: Large Manufacturing outlook 9 (vs. 5 expected and prior 1)

And, background here:

• Bank of Japan Q2 Tankan report coming up soon - a similar indicator has been much improved