Inflation in Tokyo at 40-year highs
Excluding variable fresh food products, inflation in Japan’s capital Tokyo has been on the rise for 16 months, according to data from the Ministry of the Interior and Communications (Soumu).
Driven by rising energy and raw material costs, the consumer price index (CPI) in Tokyo in December 2022 rose 4 percent compared to December 2021.
Excluding the effect of the excise tax increases, this rate was recorded as the highest rate of increase in inflation in the Tokyo region since 1982. According to data released for December 2022, food prices in Tokyo increased by a 7.5 percent, while city gas rose 36 percent and electricity 26 percent.
Reasons for rising inflation include rising energy and raw material costs and the intermittent depreciation of the Japanese yen against exchange rates. (AA)
Source: Sozcu
Andrew Dwight is an author and economy journalist who writes for 24 News Globe. He has a deep understanding of financial markets and a passion for analyzing economic trends and news. With a talent for breaking down complex economic concepts into easily understandable terms, Andrew has become a respected voice in the field of economics journalism.
