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The US Department of Labor says inflation rose 8.2 percent in September, compared to the same month last year.
Officials at the department released their monthly Consumer Price Index report on Thursday. It shows inflation hovering at levels last seen in the early 1980s.
Policymakers at the Federal Reserve have raised interest rates several times this year to try to coax prices down. The latest numbers will do little to persuade them to ease up.
The higher rates have prompted investors to move their money out of other economies and into US assets. The inflows have propped up the dollar and pushed down currencies elsewhere, including Japan. On Thursday, the yen fell to 147 against the dollar — its lowest level in 32 years.
The depreciating yen has created problems for businesses by driving up costs at a time when consumers are losing their confidence.
Yanai Tadashi, the head of Japan-based Fast Retailing, said, “Is there anyone who feels the benefits of a weaker yen? Most of the people in the manufacturing industry don’t even feel it. It’s quite a disadvantage.”
He added that he and other business leaders do not expect their fortunes to improve anytime soon.
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