ROUBINI: Japan is undergoing a structural economic transformation.

Counterpoint Research says since the start of 2026 rising global memory prices have pushed retail prices higher for more than 40% of smartphone models — the first time at this scale in the industry. Newly released models are about 25% pricier than comparable launches a year earlier. Global average retail smartphone price is up roughly 15% in 2026, with some models seeing near-100% increases. Manufacturers are passing higher storage and other component costs to consumers. Price-sensitive markets saw the largest increases: India +21%, APAC +19%, Middle East & Africa +18%. Markets with a larger high-end mix or carrier-led distribution experienced smaller rises: China +10%, Europe +7%, US +5%. Price moves are concentrated in newly launched models.

Federal Reserve Governor Waller said waiting one meeting carries almost no cost.