Japan inflation up 2.9% as energy subsidies reducedMount Fuji (back L), Japan's highest mountain at 3,776 meters (12,389 feet), is silhouetted during sunset behind the highrise buildings of the Shinjuku area in downtown Tokyo on November 20, 2023. TOKYO, Japan — Japanese consumer inflation was up 2.9% year-on-year in October as the government reduced subsidies for electricity and gas bills, government data showed Friday. Stripping out fresh food and energy, Japan's prices rose 4.0%, data published by the internal affairs ministry showed. Prime Minister Fumio Kishida's government has been providing subsidies for gasoline since January 2022 and electricity and gas since the beginning of this year. Japan, like other economies around the world, has seen prices rise on the back of the Ukraine war, while a weaker yen has also made imports more expensive.

Source: Philippine Star November 24, 2023 16:30 UTC