Japan Prices Rise Most Since ’82 on Tax, Utility Fees: Economy

Japan’s consumer prices climbed at the fastest pace in 32 years, boosted by higher utility charges and a sales-tax increase that contributed to the biggest slide in household spending since the March 2011 earthquake.

Consumer prices excluding fresh food rose 3.4 percent in May from a year earlier, the statistics bureau said today in Tokyo, matching the median projection in a Bloomberg News survey of 30 economists. Household expenditure dropped 8 percent on year, more than any forecast, separate data showed.