- 14 Mar 2002
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Japan's consumer inflation rate hit a 41-year high of 4% in December, as prices for everything from burgers to gas surged. That rate is still relatively low compared to other nations. Japan, the world's third-largest economy, has been fending off deflation, or chronically falling prices, for decades. The last time core consumer prices rose that much was December 1981, the Ministry of Internal Affairs and Communications said.
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The core consumer price index -- which excludes fresh foods -- increased 4% from a year earlier, up from 3.7% in November, according to the Ministry of Internal Affairs and Communications. Last month's figure marked the sharpest rise since December 1981. Prices of electricity increased by 21.3%, while grains rose by 9.6%. Last year's core consumer inflation rate averaged 2.3%. The statistics come two days after the Bank of Japan kept its ultra-loose monetary policy unchanged in its latest monetary policy meeting. The 4% rise in December means that Japan's core inflation has surpassed the BOJ's price stability target of 2% for the ninth consecutive month.
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Japan consumer inflation accelerates to 41-year high of 4%
December figure exceeds BOJ's price stability target for ninth straight month
asia.nikkei.com