I don't think an inflation target is in anyone's interest since the government will ultimately need to do what satisfies the general public.

Gains in consumer prices will probably accelerate at a gradual pace as wages rise, consumption picks up steam and companies pass more costs to consumers. Investors should anticipate the Bank of Japan won't stop with one rate increase alone.

These figures will translate into upward pressures on the consumer price index.

The BOJ may want to move early to raise rates, but they should expect a big battle. It likely won't happen until October or later.

If you are anticipating higher inflation and a rise in interest rates, it will slow down demand for resources.

Prices are rising, but not fast enough to prompt the central bank to raise interest rates. Inflation will pick up slowly toward the end of the year.