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Inflation goes up in Japan due to rising food and energy prices

Tokyo, Oct. 24 (Prensa Latina) Japan's consumer price index (CPI) registered a year-over-year increase of 2.9 percent in September, due to higher prices for essential products such as food and energy, the government acknowledged today.

With this result, the 2 percent target set by the Bank of Japan (BoJ) was once again exceeded.

The food sector, excluding fresh produce, experienced a 7.6 percent increase compared to the same month last year, according to data released by the Statistics Office of the Ministry of the Interior and Communications.

Grains, and particularly rice—a mainstay of the Japanese diet—have been primarily responsible for the increase.

Over the past year, the price of rice has doubled, and government measures to stem this trend have yet to show significant results.

Energy costs also contributed to the increase in the index. In September, energy prices rose 2.3 percent, while electricity prices rose 3.2 percent and gas prices rose 1.9 percent.

This inflationary outlook poses challenges for the BoJ’s monetary policy as Japanese households face a rising cost of living.

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