Japan’s inflation rate continues to accelerate, surpassing the target levels of the country’s national authorities, requiring emergency intervention and an immediate solution from the Japanese government.
Official data released on Friday showed the consumer price index excluding both food and fuel prices, closely watched by the Bank of Japan as the measure of domestic price trends, rose 4.1% in April year-on-year, at the fastest rate of increase since September 1981.
Japan’s core CPI growth in April 2023 was 3.4% in line with analysts’ expectations, but higher than last March’s 3.1%, and well above the 2% target.
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