Even Japan is fighting inflation now

Posted on AllSides July 6th, 2022
From The Center

By US standards, Japan’s inflation rate in May might feel paltry. Year on year, the consumer price index rose 2.5%, compared to a heated 8.6% in the US that same month.

But to a country that has grown unused to inflation over the past three decades, even 2.5% hurts. Japan’s current encounter with inflation shows how factors like the Russia-Ukraine war, supply chain snags, and oil prices are combining to affect even one of the world’s most deflation-prone economies.

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