Prices in Japan up 2.1% due to higher energy prices

Consumer Price Index (CPI) Japan It rose 2.1% year-on-year in April, exceeding the Bank of Japan’s (BoJ) inflation target for the first time in 7 years, driven by higher energy prices and other raw materials.

The indicator, which excludes food prices because of their high volatility, rose for the eighth consecutive month in April, according to data published this Friday. ministry of domestic affairsIn light of persistent inflationary pressures due to increase in fuel prices and other ingredients.

Import

The archipelago, highly dependent on imports, has seen an increase in import costs not only because of a global increase in prices, but also because of its strong devaluation. yen Which is making your purchase a lot more expensive.

Japanese inflation did not exceed the 2% barrier, the elusive target of BoJFrom March 2015, when prices were still adjusting to the first VAT increase in the country in 17 years, it rose from 5 to 8% in April 2014.

The 2.1% year-on-year increase in prices in April this year follows the 0.8% increase experienced by Indian Penal Code in March.

Month-on-month, prices increased by 0.4% Japan In the fourth month of 2022.

Energy prices, up 19.1% year-on-year, were the factor that contributed most to the increase in CPI, followed by the increase in the cost of goods. entertainment Durable, 4.5%.

In areas experiencing a drop in prices in April, Communications10.9% year-over-year.

In 2013, the Japanese central bank launched a comprehensive monetary easing program to bring inflation In 2%, however, this objective was progressively delayed.

The BoJ, which has already indicated that inflation may soon rise to its target, has chosen to maintain its policy, in contrast to other entities such as the United States or Europe, alleging that the rise in prices is at the current rate. The product is circumstance. geopolitics,

guera

The reason for the Russo-Ukrainian war has been imports energy and other materials and the Covid-19 pandemic is wreaking havoc on supply chains.

In this context, the entity believes that the current price increase does not respond to the rate of increase. Salary At the national level that can sustain domestic demand, which is still fragile, and which keeps inflation stable and sustainable.