TOKYO: Japan’s core inflation slowed to 2.4% in December, government data showed Friday, as Japanese Prime Minister Sanae Takaichi prepares to dissolve parliament ahead of a snap election.
The year-on-year rise in consumer prices, which excludes volatile fresh food, compared to 3% in November and was in line with market expectations.
Rice prices rose more than 34%, the internal affairs ministry said.
There was also an increase in prices for cereals and confectionery, among others but government subsidies for electricity, gas and high school fees contributed to the slower pace of inflation, according to data.
Takaichi, who was appointed leader in October, has promised to fight inflation as a major priority, and her cabinet has approved a record ¥122.3 trillion budget for the fiscal year from April 2026.
Public discontent over rising prices largely contributed to the downfall of Takaichi’s predecessor Shigeru Ishiba.