Inflation in Tokyo is at its highest level in 40 years

Energy costs and the weak Japanese yen caused Tokyo's CPI to rise 3.5 percent in October and the core CPI by 3.4 percent compared to the same period last year.

This rate was recorded as the highest inflation in the last 40 years in the Tokyo region, excluding the effect of consumption tax increases.

According to the data, the last time the core CPI increased at the same rate was in June 1982. According to the data announced for October 2022, food prices in Tokyo rose by 5.9 percent and energy prices by 24.2 percent.

The main reasons for the increase in inflation are the rise in energy costs and the depreciation of the Japanese yen in the face of exchange rates.