Business

Consumer inflation in Japan’s capital rises at fastest pace in 40 years According to Reuters




By Takahiko Wada and Leika Kihara

TOKYO (Reuters) – Core consumer prices in the Japanese capital, seen as a leading indicator of nationwide trends, rose 3.6% in November from a year earlier, marking the fastest pace in the world. the fastest annual rate in the past 40 years, indicating increasing inflationary pressures.

The rise in Tokyo’s core consumer price index (CPI), which excludes fresh foods but includes fuel costs, exceeded the market’s average forecast for a 3.5% increase and accelerated. from a 3.4% gain in October, government data showed on Friday.

Core consumer inflation in Tokyo remained above the Bank of Japan’s 2% target for six straight months in November, a sign that rising raw material costs are pushing up prices of staples. daily up a series.

Tokyo’s core CPI, which excludes both fresh food and fuel costs, rose 2.5% in November from a year earlier, accelerating from a 2.2% gain in October.

The Bank of Japan has kept interest rates extremely low on the view that the recent rise in inflation will be temporary, remaining an exception amid a wave of central banks tightening monetary policy to combat soaring inflation. .



Source link

news7d

News 7D: Update the world's latest breaking news online of the day, breaking news, politics, society today, international mainstream news .Updated news 24/7: Entertainment, Sports...at the World everyday world. Hot news, images, video clips that are updated quickly and reliably

Related Articles

Back to top button