Japan's 2023 core inflation hits 41-year high

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Japan's 2023 core inflation hits 41-year high

STORY: Japan's 2023 core inflation hits 41-year high SHOOTING TIME: Jan. 19, 2024 DATELINE: Jan. 19, 2024 LENGTH: 00:01:49 LOCATION: Tokyo CATEGORY: ECONOMY SHOTLIST: 1. various of cities in Japan STORYLINE: Japan's core consumer prices rose 3.1 pct in 2023 from the previous year, marking the fastest growth in 41 years, the government said in a report on Friday. The core consumer price index (CPI) for the year, excluding fresh food prices because of their volatility, came in at 105.2 against the 2020 base of 100, with its pace of increase fastening from 2.3 percent in 2022, according to the Ministry of Internal Affairs and Communications. The yearly increase, which remained above the Bank of Japan's 2 percent inflation target for the second consecutive year, marked the highest level since 1983. It came despite government subsidies to lower household utility bills, underscoring higher import costs that were inflated by a sharp drop of the yen, a byproduct of the Bank of Japan's monetary easing,

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