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The last time the inflation rate reached such a high rate was 8 years ago, and it was caused by an increase in the tax on Value Added.
Excluding the years in which tax increases raised inflation rates by a solid rate, the pace of inflation in August was the fastest in nearly 31 years.
Data published by the Ministry of Internal Affairs showed that electricity, gas and gasoline were among the most important factors that contributed to Rising prices.
The rate came slightly higher than experts’ expectations, as they had expected inflation in August to reach 2.7 percent, after it reached 2.4 percent in July.
This data comes ahead of the meeting scheduled to be held this week by the Bank of Japan, which, unlike other central banks in the economy, has stuck to its very loose monetary policy.
The central banks of many of the world’s economic powers have chosen to raise interest rates to curb inflation, but the Bank Japan He sees the current price increases as temporary and linked to exceptional events such as the war in Ukraine.
The growing gap between the BoJ’s policy and interest rate hikes elsewhere in the world has caused the rate to fall yen Which reached its lowest level against the dollar in decades.
Long ago, the Bank of Japan set a goal of achieving a sustainable inflation rate of 2 percent, which it considers necessary to revitalize the world’s third-largest economy.
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The last time the inflation rate reached such a high rate was 8 years ago, and it was caused by an increase in the tax on Value Added.
Excluding the years in which tax increases raised inflation rates by a solid rate, the pace of inflation in August was the fastest in nearly 31 years.
Data published by the Ministry of Internal Affairs showed that electricity, gas and gasoline were among the most important factors that contributed to Rising prices.
The rate came slightly higher than experts’ expectations, as they had expected inflation in August to reach 2.7 percent, after it reached 2.4 percent in July.
This data comes ahead of the meeting scheduled to be held this week by the Bank of Japan, which, unlike other central banks in the economy, has stuck to its very loose monetary policy.
The central banks of many of the world’s economic powers have chosen to raise interest rates to curb inflation, but the Bank Japan He sees the current price increases as temporary and linked to exceptional events such as the war in Ukraine.
The growing gap between the BoJ’s policy and interest rate hikes elsewhere in the world has caused the rate to fall yen Which reached its lowest level against the dollar in decades.
Long ago, the Bank of Japan set a goal of achieving a sustainable inflation rate of 2 percent, which it considers necessary to revitalize the world’s third-largest economy.