Japan’s inflation hits a 41-year high

Japan’s core consumer price inflation edged up to 3.7% in November, the highest it has been since 1981.

That was when a Middle East crisis disrupted oil production and caused energy prices to soar.

But after decades of the country trying to boost inflation, Japanese consumers are now experiencing the pain of higher prices despite stagnant wages.

Until now, the Bank of Japan (BOJ) had kept its ultra-loose monetary policy to boost its economy.

But earlier this week, it surprised the market by raising the cap on the interest rate on its…