Japan’s Inflation Hits 17-Month High, Fueling Continued Rise in Corporate Bankruptcies

Corporate bankruptcies have increased for 10 consecutive months

A customer shops for groceries at a supermarket in Tokyo on Jan. 27, 2023. Yuichi Yamazaki/ AFP via Getty Images

In recent months, the prices of essential items in Japan have continued to rise due to the weakened Japanese yen and the impact of higher resource prices. Meanwhile, the number of corporate bankruptcies in Japan has risen for 10 consecutive months as companies struggle with rising costs.

According to data released by Japan’s Ministry of Internal Affairs and Communications on Feb. 24, the country’s consumer price index (CPI), which was 100 in 2020, rose in January to 104.3. The number has risen for the 17th consecutive month.