Tokyo sees rapid increase in consumer prices in seven years

Published

2 years ago

May 6, 2022

Japan has seen the fastest increase in consumer prices in seven years

April saw a 1.9 per cent rise compared to the previous year.

Economists expect that price rises will reach 2 per cent within the next few months, a result of growing inflation as food becomes more expensive.

One expert from the Shinkin Central Bank Research Institute says “it may not keep accelerating further as the pace of the energy price inflation is slowing”.

The 1.9 per cent increase is point 1 per cent higher than originally forecasted.

The index includes energy items but excludes fresh food.

The last time Tokyo saw such gains was in March 2015 when the index rose 2.2 per cent.

Amongst food items, hamburgers, breads and takeaway sushi packages saw the biggest price hikes.

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