2023-05-19 08:41:18
Japan recorded the highest rate of inflation in consumer prices during the month of April, and a major indicator that excludes the effects of fuel to the highest level in 4 decades.
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The consumer price index rose 3.4% in April on an annual basis
Core inflation in consumer prices in Japan continued during last April, recording rates well above the 2% target by the authorities, while a major indicator that excludes the effects of fuel reached the highest level in 4 decades.
Data published today, Friday, showed that the basic consumer price index nationwide, which excludes fresh food, but includes energy items, rose 3.4% in April on an annual basis, which was in line with analysts’ expectations, but higher than the recorded rate. last March, which amounted to 3.1%.
The index, which excludes fresh food and fuel, which the Bank of Japan closely monitors as the most prominent measure of demand-driven domestic price trends, rose 4.1% year-on-year in April, the fastest pace since September 1981.
And in November 2022, Japan recorded the highest inflation rate in 40 years. The rise in consumer prices in Japan reached a level not seen since 1982, once morest the background of the depreciation of the yen’s exchange rate once morest the dollar, which led to an increase in the cost of imports and a significant increase in energy prices.
Previous data had reported that the Japanese economy contracted unexpectedly for the first time in a year in the third quarter.
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