While the rise in core prices is a bit uncomfortably high, this stand-alone report is not evidence that soaring energy prices are feeding into other prices.

With core consumer prices set to rise steadily above zero and today's GDP report confirming that a steady recovery is at work, there is almost no obstacle left for the Bank of Japan in ending its super-loose monetary policy.

The tendency (is) once prices start to rise, for everybody to open the tap a little bit.

The pressure on prices may be relieved a little bit, but not a whole lot.

Core prices continue to rise faster than would be considered comfortable and at the intermediate level they have been surging for the past six months. That is a warning sign.

Iran has figured out that all it has to do is say belligerent things to send prices soaring, they don't have to actually do anything.