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ECONOMY > Economic Indicators

Japan’s inflation picking up speed

  • June 25, 2022
  • , All national papers
  • JMH Summary

The Saturday editions of all national papers spotlighted GOJ data showing that the consumer price index in May rose 2.1% from a year ago to mark a second consecutive monthly increase of 2% or higher. Prices of daily necessities, such as vegetables, processed foods, utility fees, pharmaceuticals, jumped even higher, by 4.7% on average. In particular, prices of electricity, gas, and gasoline soared by 18.6%, 17%, and 13.1%, respectively. Analysts reportedly project that a 2% or higher rise in the consumer price index is likely to continue for the foreseeable future due to the surge in natural resource prices abetted by the prolonged war in Ukraine. The papers forecast that political debate on how to combat inflation is bound to become heated in the run-up to the Upper House election on July 10.

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