The price level increase in Japan in January stood at 4.2% year-on-year, marking the highest surge since September 1981, the Japanese Ministry of National Affairs said on Friday
MOSCOW (Pakistan Point News / Sputnik - 24th February, 2023) The price level increase in Japan in January stood at 4.2% year-on-year, marking the highest surge since September 1981, the Japanese Ministry of National Affairs said on Friday.
Prices for salmon increased by 29.4%, pork rose by 10%, bread by 11.5%, vegetable oil by 31.7%, and milk by 10%, according to the ministry.
Japan has also recorded rising energy prices, as electricity costs increased by 20.2%, gas in general by 24.3% and gas for city dwellers by 35.2%, the ministry said.
The price growth amounted to 4% year-on-year in December 2022.
In January, the Bank of Japan (BOJ) lowered its forecast for the country's GDP growth in the current financial year, which ends on March 31, to 1.9% from 2% announced in October, while raising the expected inflation rate to 3% from 2.9%.
