Japan’s core Consumer Price Index (CPI) rose 4.2% in January 2023 compared to the same month a year earlier, following rising energy and raw material costs.

Excluding variable fresh food products, inflation continues to rise in Japan, according to data released by the Ministry of the Interior and Communications.

Core CPI in Japan rose 4.2 percent in January 2023 compared to January 2022, driven by rising energy and raw material costs.

Excluding the effect of the consumption tax increases, this rate stood out as the highest inflation rate recorded in Japan in the last 41 years.

ENERGY, RAW MATERIALS AND RENOVATION EFFECTIVE LOSS OF VALUE

According to data released for January 2023, food prices in Japan increased by 7.4%, while urban gas prices increased by 35.2% and electricity prices by 20.2%.

Reasons for rising inflation include rising energy and raw material costs and the intermittent depreciation of the Japanese yen against exchange rates. (AA)