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Inflation in Japan has reached its highest since January 1991


November, 18 2022
watermark Economic news

According to the Ministry of Internal Affairs and Communications of Japan, consumer prices in October increased by 3.7% compared to the same month last year. This was the highest value since January 1991, while the rise in prices was marked for the 14th month in a row.


In September, the inflation rate was fixed at 3%. Analysts had expected a 3.5% price increase.


On a monthly basis, consumer prices rose by 0.6% (the fastest pace since April 2014). In September, the indicator increased by 0.3%.


Consumer prices excluding fresh food (a key indicator tracked by the Bank of Japan) in October increased by 3.6% year-on-year after rising by 3% in September. This growth was the highest since February 1982. 


In particular, food prices in Japan rose by 6.2%, fuel, electricity and water supply - by 14.6%, electricity – by 10.9%. The cost of transport and telecommunication services increased by 2%.


It is worth noting that the central bank's target is at the level of 2%, and the current inflation rate exceeds it for the seventh month in a row.


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Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.