Japanese inflation hits 41-year high in 2023

Japan’s average core consumer prices rose 3.1% in 2023 from the previous year, marking their fastest increase in 41 years due mainly to higher food prices, the internal affairs ministry said Friday, Report informs, citing The Japan News.

The core consumer price index, which excludes volatile fresh food prices, stood at 105.2 against the 2020 base of 100. In 2022, the index gained 2.3%.

In December alone, the index climbed 2.3% from a year before to 106.4, rising for 28 months in a row, though slowing from the 2.5 pct rise in November.