Japan’s core inflation climbs to 3.5%, highest in more than 2 years
TOPSHOT – Customers enter an electronics shop in the Akihabara district of Tokyo on January 12, 2024.
Richard A. Brooks | Afp | Getty Images
Japan’s core inflation accelerated to 3.5% in April, government data showed on Friday, as persistent cost pressure strengthens the case for the central bank to focus on exiting its decade-long ultra-easy policy.
The core inflation figure, which strips out prices for fresh food, was higher than expectations of 3.4%, according to economists polled by Reuters, marking the highest level since January 2023, according to LSEG data.
Headline inflation climbed 3.6% from a year ago, staying above the Bank of Japan’s 2% target for more than three years, steady from the prior month.
Bank of Japan Governor Kazuo Ueda has signaled the central bank’s readiness to keep raising rates, albeit at a slower pace, while the authorities pause to assess the impacts from U.S. tariffs.
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