Japan inflation jumps to new 41-year high
"Producer prices have been rising at a much faster pace than consumer prices for some time, but now companies are passing these costs on to consumers," Damian Thong, who heads Japan equity research at Macquarie Group, told the BBC.Producer prices are a measure of inflation at a wholesale level, while consumer prices reflect how much is paid by households for goods and services.
Official data released on Friday showed inflation was at its highest since 1981, the ninth month in a row that it has been above the central bank's 2% target.As a result the world's third largest economy has bucked the trend of many other countries that have raised interest rates sharply over the last year.
On Wednesday the BOJ kept interest rates near zero, which pushed the yen down in value against other major currencies. Many experts had expected the central bank to start to phase out its economic stimulus programme in an attempt to curb rising prices. The latest official figures showed that inflation in the US stood at 6.5% in December, while it was 9.2% in the eurozone and 10.5% in the UK.Why are things so expensive? The BBC's Faisal Islam answers your inflation questions in 90 seconds
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Cost of living: Hackney Foodbank launches emergency appealAn east London foodbank is trying to raise £100,000 to stay open amidst the cost of living crisis.
Read more »
F1 chief ‘has slightly less than zero sympathy’ for teams’ cost cap complaintsPat Symonds has no time for F1 teams 'whinging' when it comes to budget cap complaints, given how often he faced budgetary struggles.
Read more »
Ten things that could cost more this year - from council tax to beerTen things that could cost more this year - from passports and council tax to beer and petrol
Read more »
The cost of living crisis has sparked a concerning new workforce trend'Resenteeism' is on the increase among workers as cost of living pressures increase
Read more »
DWP in urgent warning over £900 cost of living payment scammersOfficials said that unscrupulous criminals were cynically targeting people to try and get their bank details.
Read more »
Glasgow taxi fares to rise by 19 per cent as drivers battle huge cost increaseThe last change to taxi fare scales saw a them rise by just 0.86 per cent - but now the starting 'flag fall' charge is to go up from £3.40 to £4.
Read more »