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Tokyo consumer prices hit four-decade high in 2023 NHK

Consumer prices in Tokyo rose at the fastest pace in about four decades last year. Residents of the Japanese capital have been hit especially hard by soaring food costs.

The internal affairs ministry said Tuesday the consumer price index for the metropolis's 23 wards rose 3 percent in 2023 from a year earlier. Annual inflation reached 3 percent for the first time since 1982.

Retail food prices rose 8 percent after successive increases by firms. The reading excludes fresh food because weather conditions cause their prices to fluctuate widely.

In December, Tokyo's consumer prices rose 2.1 percent from a year earlier. It was the second straight month that inflation has slowed.

Tokyo's CPI is regarded as a leading indicator of nationwide inflation. That data for December is due to be released on January 19.
Summary
Tokyo's consumer prices increased by 3% in 2023, the fastest rise in about four decades. Food costs were particularly affected, with retail food prices surging by 8%. The inflation rate reached 3% for the first time since 1982. In December, consumer prices rose 2.1%, marking a slowdown from the
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ID: a33600fb-f9e6-4aef-a311-7706e37c5e7c

Category ID: nhk

URL: https://www3.nhk.or.jp/nhkworld/en/news/20240109_16/

Date: Jan. 9, 2024

Created: 2024/01/09 19:00

Updated: 2025/12/08 19:10

Last Read: 2024/01/09 19:27