Suppose the spot and three-month forward rates for the yen are ¥79.30 and ¥78.72, respectively.
What would you estimate is the difference between the annual inflation rates of the United States and Japan? (Negative amount should be indicated by a minus sign. Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places (e.g., 32.16).)
Inflation rate differential ___________ %