The core CPI in Tokyo increased by 3.6% year-on-year in November, which means that inflation in Japan remains high.

(Bloomberg file photo)

[Financial Channel/Comprehensive Report] The core consumer price index (CPI) in the Japanese capital increased by 3.6% year-on-year in November, the fastest annual increase in 40 years, which means that inflationary pressure in Japan continues to expand.

According to data released by the Japanese government on Friday (25th), Tokyo’s core CPI rose by more than 3.5% in November, which was also higher than the 3.4% increase in the previous (October) month, which is the sixth consecutive month. higher than the central bank's 2% target.

The last time Tokyo's inflation accelerated was in April 1982, when core CPI was 4.2 percent higher than a year earlier.

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The rise in core CPI was driven by electricity bills and food prices as companies continued to pass on higher raw material costs to households, clouding consumers and Japan's fragile economic recovery.

The Bank of Japan has kept interest rates ultra-low as it sees a further slowdown in inflation after the boost from higher fuel prices wears off next year.

Governor Haruhiko Kuroda has repeatedly said that for inflation to reach the 2% target, wage increases must be sufficient to offset rising prices.

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