Japanese inflation increases to 3.3% in October

Food, energy and services inflation boost price increases

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Headline inflation increased year on year in Japan to 3.3% in October, up from 3% in September, official data said today (November 24).

Two-thirds of that rise was due to solid price increases in fresh food inflation, which increased from 9.6% to 14.1%.

Additionally, energy inflation also rose, from -11.7% in September to -8.7% last month. Petroleum products inflation decreased. Nonetheless, “a reduction in electricity and gas subsidies resulted in utilities prices falling by a smaller 13.1%

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