Historical Year Data · 1973
Japan CPI Inflation (WEO) in 1973
Japan CPI Inflation (WEO) opened 1973 at 11.61% and closed at 11.61%, a +0.00% move for the year. The high of 11.61% was reached on December 31, and the low of 11.61% on December 31.
Open
11.61%
1973-01
Close
11.61%
1 data points
High
11.61%
Dec 31
Low
11.61%
Dec 31
Full Year Change
+0.00%
1972 Change
+0.00%
Monthly Breakdown
| Month | Open | Close | High | Low | Change |
|---|---|---|---|---|---|
| Dec | 11.61% | 11.61% | 11.61% | 11.61% | +0.00% |
Events During 1973
1971 Nixon Shock (End of Gold Standard)
Stagflation
August 15, 1971
On August 15, 1971, President Nixon announced the United States would no longer convert dollars to gold at $35/oz, ending the Bretton Woods system and ushering in the modern fiat era.
1973 OPEC Oil Embargo
Stagflation
October 1973 – March 1974
OPEC quadrupled oil prices and embargoed shipments to the United States in response to US support for Israel in the Yom Kippur War. The shock launched a decade of stagflation.
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