February 1, 2023

Japan’s inflation rose in December, reaching its highest level in 41 years.

And Japan’s Ministry of the Interior said today that the consumer price index, excluding fresh produce, rose 4 percent last month from the same month a year earlier as a result of higher energy and raw material prices, noting that Japan’s inflation rate for 2022 increased excluding Fresh products by 2.3 percent compared to the previous year.

The last time inflation rose by this percentage was in 2014, when the consumption tax hike was introduced. Otherwise, this percentage represents the highest increase since 1991.

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