According to Jin10, Mizuho Securities economists said AI-related demand has significantly pushed up Japanese corporate goods prices since early 2026, but the upward impact on the consumer price index (CPI) appears limited because higher AI-related costs affect only some durable consumer goods, even if all costs are passed on to consumers. They added that, at least from a cost-push perspective, comparing the inflation risk from AI-related demand with high energy prices or a weaker yen is somewhat overstated. Bank of Japan Governor Kazuo Ueda reiterated in a speech on Tuesday that AI demand, like higher oil prices and a weaker yen, is one of the factors pushing up Japan's inflation.