Inflation in Japan rose for the first time in four months – Kommersant
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Japan’s core consumer price index rose 2.9% year on year in October. By data Japanese Ministry of Internal Affairs and Communications, this is the first increase in a key inflation indicator in four months.
Core inflation, which excludes food prices, which are quite volatile, stood at 2.8% in September. This was the lowest level in the previous 13 months and the first time since August 2022 that inflation was below 3%.
According to Japanese analysts surveyed Nikkei, behind the rise in inflation is the September halving of subsidies for electricity and energy resources. And if in September electricity bills and gas prices fell by 24.6% and 12.5%, respectively, then in October this figure slowed to 16.8% and 10.2%, respectively.
The rise in inflation in October, although slight, raised fears among investors that the Bank of Japan may end its policy of negative interest rates. According to experts interviewed Reutersthis can be done in April.
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