Japan's inflation increased to 2.6% in July

Japan's inflation increased to 2.6% in July

Japan's annual inflation rate increased to 2.6 percent in July 2022 from 2.4 percent in June, the fastest increase since April 2014. Despite the figures exceeding the Bank of Japan's 2 percent objective due to the conflict in Russia and Ukraine and a weak yen, the bank is expected to continue its ultra-low monetary policy. According to the government, food, fuel, light, and water costs were the primary causes of price increases. It said that consumer prices, except for fresh food, went up 2.4 percent in July from a year ago, with energy costs making up for around half the gains. According to the report, consumer prices increased by 0.5 percent on a monthly basis, the most since January 2021. BKM/ Expat Media

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