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Japan inflation hits four percent in December

Japan inflation hits four percent in December

TOKYO: Japan's consumer prices rose four percent in December from a year earlier, a level not seen since December 1981, fuelled in part by higher energy bills, government data showed Friday.The acceleration comes after a 3.7 percent increase in prices in November, and the data from the internal affairs ministry showed inflation for the 2022 calendar year stood at 2.3 percent.The figures were released days after Japan's central bank again opted to leave its ultra-easy monetary policy intact, bucking the trend set by peers abroad who have hiked rates to tackle rising prices.The December figure is well below the still sky-high levels that have sparked concern in the United States, Britain and elsewhere, but it far exceeds the Bank of Japan's longstanding inflation goal of two percent.Even excluding volatile fresh food and energy prices, the figure for December was three percent.Rises in electricity and gas bills, as well as telecommunication fees and price hikes for a range of processed f

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