Japan It registered year-on-year inflation of 3.7% in November, its highest level since 1981, partly driven by higher energy prices, according to official data published on Friday.
Prices skyrocketed for processed food, but also for electricity and durable goods such as air conditioners. Government subsidies slowed the rise in gasoline prices.
Although the inflation figure is far from US or UK levels, it is well above the Bank of Japan’s long-term target of 2%.
Even so, this institution considers this price increase temporary and has avoided raising interest rates like other central banks and has maintained its ultra-flexible monetary policy, although this has devalued the yen.
Since 1990, the world’s third largest economy has oscillated between periods of weak inflation and deflation, before which it has opted for very low interest rates to try to relaunch growth.
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