Misery index in Japan is set to shoot up to a 33-year high.

The big QE gamble that Ben Bernanke undertook in the US, Japanese Prime Minister Shinzo Abe has repeated in Japan. The Bank of Japan initiated a massive monetary stimulus last year. The aim was to boost economic growth and raise inflation rate to 2%. Has the monetary stimulus really worked? As per an article in Bloomberg, the misery index in Japan is set to shoot up to a 33-year high. The misery index, which reflects economic hardship, adds the jobless rate to the inflation level. The misery index is set to rise to 7 percentage points in the three months starting April when Japan increases it sales levy to 8% from 5%. This would punish consumers who are already struggling with a depreciating currency and stagnant wage levels. The cost of living in Japan has shot up to a five-year high. The monetary stimulus may have pushed up asset prices. But it has not been a bane for wage earners and savers.