Categories: Economy

Inflation in Tokyo at a 42-year high

Excluding variable fresh food products, inflation in Japan’s capital Tokyo has been on the rise for 17 months, according to data from the Ministry of the Interior and Communications.

With the effect of rising energy and commodity costs, the core CPI for the capital Tokyo increased by 4.3% in January 2023 compared to January 2022.

Excluding the impact of the consumption tax increases, this rate was recorded as the highest inflation in the Tokyo region since 1981.

FOOD INCREASED 7.4 PERCENT, ELECTRICITY INCREASED 26 PERCENT

According to data released for January 2023, food prices increased 7.4% in Tokyo, while urban gas prices increased 39.7% and electricity prices increased 26%.

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

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.