February 26, 2021
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Declining power
Japanese currency is losing its value Japanese economy is still faltering in a new way which is causing lot of concern that whether Japan will ever be able to come out of this crisis and regain its place as world’s second largest economy. The tragic story is its currency Yen is losing its stem and it is deliberate as the government wants to keep Yen at a low height to boost sluggish economic recovery.     If the items you purchase these days seem more expensive, you are not imagining things. Electric bills are higher. The price for a litre of gasoline or diesel fuel has gone up, with costs being passed on throughout the distribution chain. The raising of the consumption tax on April 1 boosted prices at the checkout counter. And certainly the past several months of inclement weather has caused the prices of certain vegetables and other food items to soar. Such developments are poised to play havoc with the average household budget. According to data released by the Tokyo metropolitan government in mid-September, the price for a head of lettuce had already soared year on year by 86.5 percent (as opposed to 38.4 percent for cabbage). Other increases (all figures in percent) included beef, 16.2; shrimp, 17.9; tuna, 11.2; salmon, 18.2; imported cheese, 12.2; chocolate, 13.8; and ginger root, 25.5. If these were not enough, the decline in value of the Japanese Yen, which less than two years ago was soaring high at ¥85 to $1,
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