Inflation rate at record level of 41 years in Japan, everything from cooking gas to burgers is expensive
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New Delhi/Tokyo : Not only Sri Lanka and Pakistan are troubled by inflation, but Japan, which is one of the economically prosperous countries of the world, is also facing it. The situation is that everything from cooking gas to burgers has become expensive in Japan and Japan’s inflation based on consumer prices has increased to a record level of 41 years in the month of December. According to economic experts, due to the ongoing war between Ukraine and Russia, the supply chain of the world has been disrupted and there are signs of recession in the global economy. Its effect is being seen on the economies of rich countries. This is the reason why consumer inflation in Japan has also reached 4 percent in December 2022 with a record level of 41 years.
Japan’s inflation rate at a high level of 4 percent
According to the news of the news agency language, consumer inflation in Japan increased to a 41-year record level of four percent in the month of December. It has been mentioned in the news that due to the high inflation in Japan, there has been a tremendous increase in the prices of all types of items from gas to burgers. However, the inflation rate of Asian country Japan is still lower than some other countries including America.
Inflation increased in Japan in 1981
According to the news of the agency, Japan, the world’s third largest economy, has been struggling with deflation ie continuously falling prices for decades, but now the situation has reversed. The Ministry of Internal Affairs and Communications said that earlier such a rise in consumer prices had come in December 1981. America’s central bank Federal Reserve and banks in many other countries have raised interest rates to control inflation, but the Bank of Japan has kept its standard rate below zero for a long time at 0.1 percent.
Bank of Japan under pressure
According to media reports, a sharp fall in the value of the Japanese yen against the US dollar and other currencies put pressure on the Bank of Japan. After the Bank of Japan came under pressure, it is being speculated that it may also start increasing the policy rate soon. But, at present, it is not visible in favor of increasing the policy interest rates.
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