November 23, 2022
According to data from the Ministry of Internal Affairs and Communications, the price of imported products increased in October, pushing Japan’s consumer price inflation to a 40-year high.
From 3.0 percent a month before, core inflation, which excludes fresh food, increased to 3.6 percent. This was slightly higher than the economists’ projection of 3.5 percent and the best since early 1982.
From 3.0 percent in September, consumer price inflation increased to 3.7 percent in October.
For the seventh consecutive month, inflation has remained above the central bank’s 2 percent target.
According to economist Darren Tay of Capital Economics, the Bank of Japan will steadfastly maintain its ultra-easy monetary policy despite higher inflation.
Source: RTT News
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