Japan’s core CPI reaches its highest level since 1981

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Tokyo, Jan. 20 (IANS) Core consumer prices in Japan rose 4.0 percent year-on-year in December, the highest level since 1981, on the back of rising energy and food prices, the government said in a report on Thursday. Friday.

According to the Ministry of Interior and Communications, the core consumer price index, which excludes volatile fresh foods, has not only seen its strongest growth in more than 40 years, but has remained above the Bank of Japan’s 2 percent inflation target for the seventh month in a row. reports Xinhua news agency.

Higher prices for electricity and other energy costs, as well as food, drove core CPI up, the statistics office said, with food prices rising 7.4 percent in December, while energy prices rose 15.2 percent.

Electricity rose 21.3 percent in the record month, while city gas rose 33.3 percent, the ministry said.

Gasoline rose 1.6 percent, while the price of kerosene rose 4.7 percent in the recording period, the ministry said.

Japan’s core-core CPI, meanwhile, excluding fresh food and energy prices, rose 3.0 percent, the highest since 1991, the statistics agency data showed.

For 2022, core CPI rose 2.3 percent from a year earlier, the data also showed, which, when the effects of previous consumption tax increases are removed, marked the fastest pace since 1991, the ministry added up to it.

–IANS



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