Japan inflation at 3.7pc in November, highest since 1981

AFP :
Prices in Japan rose at their fastest pace since 1981 in November, data showed Friday, fuelled in part by higher energy costs.
Core consumer prices, which exclude volatile fresh food costs, climbed 3.7 percent last month compared to a year earlier, data released by the internal affairs ministry showed.
Prices jumped the most for processed food items and were also higher for electricity and durable goods like air conditioners.
The November figure is well below the sky-high levels that have sparked concern in the United States, Britain and elsewhere, but far exceeds the Bank of Japan’s long-term goal of 2.0 percent.
Even excluding fresh food and energy, the index was up 2.8 percent.
“Although low by international standards, Japanese consumer price inflation at three percent to four percent is high enough to feel uncomfortable with stagnant wage growth,” wrote Sarah Tan, economist at Moody’s Analytics, in a note. The headline core consumer price index (CPI) has risen consistently since the beginning of the year, putting pressure on the Bank of Japan to tweak its longstanding monetary easing policies.