It's official: Japan’s Core CPI inflation is now ABOVE US Core CPI inflation for the first time in 48 years, excluding periods of sales tax hikes. Japan's Core CPI was 3.4% in July, one of the highest readings since the 1980s. By comparison, US core CPI inflation was 3.1%. Japan’s core inflation has now been above the Bank of Japan’s 2% target for 40 consecutive months. As a result, Japanese government bond yields keep rising, with the 30-year hitting 3.24%, the highest on record. Japan is in need of a major economic restructuring.(The Kobeissi Letter)