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Energy prices in Tokyo log steepest rise in 40 years

Core consumer prices in Tokyo's densely populated 23 wards, seen as a leading indicator of nationwide prices, rose 0.3 percent in November. (Shutterstock)
Core consumer prices in Tokyo's densely populated 23 wards, seen as a leading indicator of nationwide prices, rose 0.3 percent in November. (Shutterstock)
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26 Nov 2021 01:11:55 GMT9
26 Nov 2021 01:11:55 GMT9

TOKYO: Energy prices in central Tokyo surged 13.9 percent from a year before in November on the back of surging crude oil prices, marking the sharpest increase since the 26.6 percent rise logged in March 1981 amid the oil crisis, government data showed Friday.

Gasoline prices jumped 28.2 percent, the steepest growth since the 28.4 percent in July 2008. Kerosene prices rose 24.7 percent, electricity fees grew 13.1 percent and city gas charges expanded 10.3 percent.

Core consumer prices in Tokyo’s densely populated 23 wards, seen as a leading indicator of nationwide prices, rose 0.3 percent in November, up for the third straight month, the internal affairs ministry said.

The result compared with a median forecast of a 0.4 percent increase among 18 economic research institutes surveyed by JIJI Press.

The core consumer price index, which excludes often volatile fresh food prices, stood at 100.0 against 100 for the base year of 2020. Month on month, the index was up 0.2 percent.

Accommodation fees soared 57.6 percent year on year, following a plunge a year before due to discounts offered under the government’s Go To Travel domestic tourism promotion program.

Mobile communications fees dived 53.6 percent, reflecting the introduction of low-cost plans by major carries.

JIJI Press

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