BOJ comments on surging wholesale prices – index at its highest since 1982!

An official from the Bank of Japan on the data earlier. This, ICYMI:

Japan PPI data for March 2022: +9.5% y/y (vs. expected 9.3%)

Says:

Japan's March wholesale price index is at 112.0, the highest since December of 1982
wholesale prices rose 7.3% in the fiscal year 2021, this is the quickest pace of increases sine comparable data became available in fiscal 1981

What happens when the highest level of wholesale inflation in 40 years is shrugged off by the CPI: