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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 taxes. Value added.
Excluding the years when tax hikes raised inflation rates by a robust rate, the pace of inflation in August was the fastest in nearly 31 years.
Data released by the Interior Ministry showed that electricity, gas and petrol were among the most important contributing factors Rising prices.
The rate was slightly above experts’ expectations as they expected inflation to hit 2.7% in August, after reaching 2.4% in July.
These figures precede the meeting scheduled this week by the Bank of Japan, which, unlike other central banks in the economy, has remained faithful to its very accommodative 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 For him, the current price increases are temporary and linked to exceptional events such as the war in Ukraine.
The growing gap between BoJ policy and interest rate hikes in other parts of the world caused the rate to drop yen Which has 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%, which it believes is 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 taxes. Value added.
Excluding the years when tax hikes raised inflation rates by a robust rate, the pace of inflation in August was the fastest in nearly 31 years.
Data released by the Interior Ministry showed that electricity, gas and petrol were among the most important contributing factors Rising prices.
The rate was slightly above experts’ expectations as they expected inflation to hit 2.7% in August, after reaching 2.4% in July.
These figures precede the meeting scheduled this week by the Bank of Japan, which, unlike other central banks in the economy, has remained faithful to its very accommodative 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 For him, the current price increases are temporary and linked to exceptional events such as the war in Ukraine.
The growing gap between BoJ policy and interest rate hikes in other parts of the world caused the rate to drop yen Which has 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%, which it believes is necessary to revitalize the world’s third largest economy.
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