In Japan’s capital, Tokyo, consumer prices continue to rise at the fastest rate in 40 years.
As residents of Tokyo, especially electricity, I am suffering from the rising cost of gas and food.
Japan’s Ministry of the Interior said that consumer prices in 23 prefectures in Tokyo for December rose 4.0 percent from last year. This is the highest number since April 1982.
Companies have been raising retail prices of food by up to 7.5 percent. This is the highest increase since 1976. That calculation does not include commodity prices, which fluctuate heavily depending on weather conditions.
Total energy costs are rising due to higher natural resource prices, with gas prices rising by 36.2 percent and electricity prices by 26 percent, respectively.
The Ministry of Interior also released figures for the entire year.
Tokyo’s consumer inflation for 2022 is 2.2 percent. That’s the fastest rate in 30 years, excluding the effects of a consumption tax hike. Tokyo’s Consumer Price Index (CPI) is said to be an important figure in the national index.