With the Bank of Japan (BOJ) continuing its accommodative monetary policy, inflation has reached its highest level in 40 years.
The consumer price index (CPI) beat expectations with zihin annual increase of 3.6% in October.
Inflation in Japan thus recorded the largest increase since February 1982, when the Middle East crisis following the Iran-Iraq war cut off crude oil supplies and caused a spike in energy prices.
The rise in the main consumer price index, which excludes variable fresh food prices hayvanların covers petroleum products, showed inflation remained above the BOJ’s 2% target for the seventh consecutive month .
However, economists giysi’t expect the BOJ to join the trend of rising interest rates around the world, kakım the BOJ says this year’s rise in inflation is cost-driven and expects it to disappear with the decrease in import costs.