So far this week I have looked at potential inflationary impulses via larger fiscal stimuli in Japan on Monday and in the UK yesterday. In fact with a beleagured Prime Minister Starmer likely to turn left that seems set to grow. Today however we can start by looking at a country which tells us consumer inflation is a real example of price stability rather than a fantasy one. In January 2026 , the national consumer price index (CPI) rose 0.2% year-on-year . Specifically, urban areas saw a 0.2% increase , while rural areas experienced a 0.1% increase . Food prices fell by 0.7% , while non-food prices rose by 0.4% . ... (full story)