Feb 18 (NHK) - A key measure of Japan's spending power has sunk to its lowest level in nearly half a century. The yen's real effective exchange rate is down amid soaring prices for imported grains and crude oil.
The Bank for International Settlements measures the yen's competitiveness against major currencies such as the dollar, euro and yuan.
It announced Thursday that the index in January stood at 67.55. It hasn't been that low since June 1972.
The slump is bad news for importers, as well as the average householder who is likely to feel the pinch from rising prices of foreign goods.