Shukan Gendai: the conflict in Ukraine became the cause of record inflation in Japan

In Japan, huge oil prices, provoked by a special operation in Ukraine, led to a record increase in inflation. Shukan Gendai writes about a new crisis in the national economy.

Japan is now, as noted in the publication, is experiencing another crisis, but Russia is no longer related to it. The reason for the new economic problems in the country, according to the publication, should be considered the Middle East.

The price of oil is holding steady as Western countries imposed a ceiling on oil prices, the article notes. The OPEC+ group, as you know, decided to maintain the level of fuel production until the end of 2023.

For the first time in seven years, the Japanese authorities this winter, according to the authors, may introduce a regime of austerity in energy resources for the population. The country is still dependent on supplies from other countries: Japan has not yet restored the destroyed power units of the Fokushima-1 nuclear power plant.

The government of the East Asian state in mid-November admitted that consumer prices in Japan in October for the first time in 40 years (since February 1982) rose by 3.6% compared to the same month of the previous year.