Inflation in Japan reached a record in 23 years

In Japan, inflation last month grew at the fastest pace in 23 years , while industrial production and household spending fell after the increase in the consumption tax .

Consumer prices excluding food – an indicator for which the Bank of Japan Targeted target of 2% – increased in April by 3.2 % based on the annual rate after rising 1.3% in the previous month.

Economists surveyed by Bloomberg, on average, expected the indicator by 3.1%.

Analysts predict that this year’s consumer price growth will be lower than in April , and that the Central Bank of the country escalate incentive program to adjust the rate of inflation to the target value .

Consumer prices excluding food and energy rose last month by 2.3% compared to 0.7 % in March.

The overall rate of inflation in April rose to 3.4% from 1.6% , as expected . Food prices have risen by 5% , the cost of food – 10%.

Country’s central bank predicts that in the fiscal year that began last month , inflation excluding fresh food will be 1.3 % next year – will rise to 1.9%.

Japan’s unemployment rate fixed at 3.6% , while the ratio of applicants to the workplace rose to 1.08 from 1.07 in March.

Household spending fell last month by 4.6% compared with April 2013 , while the projected decrease of 4.6%. In March, an increase of 7.2%.

Industrial production fell in April by 2.5% on a monthly basis and increased by 4.1% on an annualized basis . Predicted reduction indicator by 2% compared to March and a jump of 4.5% compared to April last year. In March, both indicators rose 0.7% and 7.4% respectively.