Business | Mar 23

Japan's CPI Rises by 2.8% in February

TOKYO, Mar 23 (News On Japan) - The Ministry of Internal Affairs and Communications announced that the national Consumer Price Index (CPI) for February, excluding volatile fresh food prices, increased by 2.8% compared to the same month last year.

This growth rate marks the first expansion in four months. According to the ministry, the overall index, excluding fresh food, stood at 106.5, showing a 2.8% increase from a year earlier. The rate of increase expanded from 2.0% in January, the first in four months.

The main factors behind this rise were higher food and accommodation prices, along with the diminishing effects of government measures to control electricity and city gas prices, which had been in place for a year.

Following its monetary policy meeting in March, the Bank of Japan decided to revise its massive monetary easing measures, including the removal of negative interest rates. Governor Ueda confirmed, "We have observed a strengthening of the positive cycle between wages and prices."

Source: テレ東BIZ

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