Consumer prices within Tokyo's 23 wards rose in October at the fastest pace since 1989. The consumer price index for the capital was up 3.4 percent from a year earlier.
The internal affairs ministry said on Friday that the index reached its highest level since June 1982, if the effects of the consumption tax hikes are excluded.
Officials say higher import costs, due to the weaker yen, and soaring prices for raw materials drove food prices up by 5.9 percent.
The prices of fresh food items are excluded because weather conditions cause them to fluctuate widely.
The prices of fast-food hamburgers, chocolate and imported pork went up 18.3 percent,10.8 percent and 7.4 percent respectively.
Gas bills soared 28.8 percent and electricity bills jumped 26.9 percent.
The prices of cell phones and air conditioners rose 16.5 percent and 12.2 percent respectively.
Tokyo's CPI is considered to be a leading indicator of nationwide inflation. The nationwide index for October is scheduled to be released on November 18.
The internal affairs ministry said on Friday that the index reached its highest level since June 1982, if the effects of the consumption tax hikes are excluded.
Officials say higher import costs, due to the weaker yen, and soaring prices for raw materials drove food prices up by 5.9 percent.
The prices of fresh food items are excluded because weather conditions cause them to fluctuate widely.
The prices of fast-food hamburgers, chocolate and imported pork went up 18.3 percent,10.8 percent and 7.4 percent respectively.
Gas bills soared 28.8 percent and electricity bills jumped 26.9 percent.
The prices of cell phones and air conditioners rose 16.5 percent and 12.2 percent respectively.
Tokyo's CPI is considered to be a leading indicator of nationwide inflation. The nationwide index for October is scheduled to be released on November 18.
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Summary
Consumer prices in Tokyo's 23 wards experienced a significant rise in October, marking the fastest increase since 1989 (3.4% year-on-year). Excluding consumption tax hikes, the index reached its highest level since June 1982. Key drivers include higher import costs due to the weaker yen and
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ID: 00d2571a-2c1a-45de-b37f-a89c97156ff2
Category ID: nhk
URL: https://www3.nhk.or.jp/nhkworld/en/news/20221028_15/
Date: Oct. 28, 2022
Created: 2022/10/28 18:01
Updated: 2025/12/09 12:14
Last Read: 2022/10/28 18:27