Inflation in Japan in 2023 reaches record in 41 years
Japan's core consumer inflation in 2023 was a record 3.1% in 41 years, Azernews reports, citing foreign media outlets.
This is evidenced by statistics published by the Japanese Ministry of Administrative Affairs and Communications.
In 2022, the inflation rate was 2.3%. The key indicator reflecting the increase in prices in the country includes the cost of fuel, but does not take into account the prices of perishable products, since they are subject to too strong fluctuations.
It is based on this index that the Bank of Japan sets an inflation target. Taking into account these goods, inflation in Japan reached 3.2% in 2023, and excluding perishable products and fuels - 4%.
The key causes of inflation in Japan remain rising energy and food prices, as well as the continued weakening of the national currency.
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