The basic inflation in Japan strikes the highest level since January 2023, which leads to pressure on BOJ to raise prices star-news.press/wp

The basic inflation rate in Japan increased to 3.7 % in May, which represents its highest level since January 2023 and puts more pressure on the Bank of Japan to raise prices to combat inflation.

The number – which offers fresh food costs – was above 3.6 % expected by economists who were occupied by Reuters, which is higher than April reading by 3.5 %.

Rice prices increased by 101.7 % on an annual basis, which is the largest increase in more than half a century.

The prices of rice in Japan have been in the spotlight recently, as the government launches emergency stocks to reduce the country’s main food price.

The main inflation came by 3.5 %, less compared to 3.6 % in April. This represents the thirty -eighth month in a row in which inflation was turned over 2 %.

The “basic” inflation rate, which raises the prices of both fresh foods and energy and is closely monitored by BOJ, increased to 3.3 % of 3 % in the previous month.

The inflation number comes at a time when the Central Bank maintains a 0.5 % after the monetary policy meeting earlier this week, although he said about it statement This moves to pass wages increases to selling prices and support basic inflation.

The battle of cattle kazuo ueda According to what was reported, the Japanese parliament was told last week that the central bank will continue to raise prices “as soon as we feel more conviction that basic inflation will deal with 2 % or hover around this level.”

However, the bank expects to expect to go an advancement, adding that “the basic basic inflation is likely to be slow, mainly due to the slowdown in the economy.”

Separately, GDP in Japan decreased by 0.2 % per quarter in March compared to the previous period with low exports, which represents the first time in the year that the economy contracted on a quarter of a quarter of.