Japan inflation: the decline in inflation is largely due to a reduction in the cost of utilities

Inflation excluding food and energy in annual terms increased to 3.5% from 3.2%

Our team asked Serhii Zhdanov from EXMO for a comment on Japan's inflation. Here's what we got.

Serhii Zhdanov (EXMO): Inflation in Japan in February 2023 amounted to 3.3% in annual terms. Inflation slowed sharply from 4.3% (a record since December 1981) a month earlier. The decline in inflation is largely due to a reduction in the cost of utilities – by 0.3%. Also, electricity in February fell by 5.5%. Besides this, do not forget about the fall in energy prices in world markets.

Inflation excluding food and energy in annual terms increased to 3.5% from 3.2%

Serhii Zhdanov (EXMO): However, inflation excluding food and energy in annual terms increased to 3.5% from 3.2%, a month earlier. The Central Bank of Japan also expects a reduction in inflationary pressure. If the rate of CPI decline continues, this will positively affect the Japanese economy.

Serhii Zhdanov

Serhii Zhdanov, CEO of the crypto exchange, EXMO.com. Serhii has wide expertise in the digital assets market, including product, regulations and marketing. Founded in 2014, EXMO.com is now based in the UK, Ukraine, Poland, Lithuania and the U.S. The company has more than 24,000 active daily traders, more than 180 trading pairs, an exchange token EXMO Coin (EXM) and operates with 5+ fiat currencies. EXMO.com supports SEPA and SWIFT transfers, as well as credit/debit cards for instant crypto purchases. The average daily trading volume is over $200 million. Apart from standard operations, the exchange offers OTC trading, API, a mobile app, staking, etc.

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