Japan's Consumer Prices Rise 3.2% in January

TOKYO, Feb 21 (News On Japan) - Japan's nationwide Consumer Price Index (CPI) rose 3.2% in January compared to the previous year, marking the highest increase in a year and seven months, according to the Ministry of Internal Affairs and Communications.

The core CPI, which excludes fresh food, reached 109.8, reflecting a sharp acceleration in price growth not seen since June 2023.

Among key contributors, electricity prices surged by 18.0%, while non-glutinous rice, excluding the premium Koshihikari variety, soared by 71.8%, recording a historically high increase.

The weak yen and poor harvests in major production areas also contributed to rising import costs. As a result, chocolate prices climbed 30.8%, and coffee beans rose by 23.7%.

Including fresh food, overall inflation exceeded 4% for the first time in two years, driven by persistent high vegetable prices, particularly cabbage.

Source: TBS

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