Japan records highest increase in commodity prices in 4 decades

Nov 26, 2022 | News On Japan

TOKYO - Official data issued by the Japanese government revealed on Friday that the prices of basic commodities of interest to consumers in the capital, Tokyo, rose by 3.6% in November compared to the same period in the previous year, recording the largest increase since 1982 amid the rise in energy and food prices, which have increasingly put pressure on household budgets.

The sharp decline in the value of the yen has inflated import costs for resource-poor Japan, as the core CPI rose in Tokyo, excluding fresh foodstuffs whose prices changed for the fifth month, the Ministry of Internal Affairs and Communications said in a statement, reported by the official Japanese news agency “Kyodo”.

Kyodo reported that inflation data in Tokyo is seen as an indication of what to expect nationally, and the latest figure shows continued inflationary pressures, exceeding the central bank's 2% target for the sixth month in a row.

Source: ANNnewsCH

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