US EditionJapan's core inflation accelerates in September, stays above BOJ target
Core consumer prices rose 2.9% year-on-year in September, driven by higher energy and food costs while service-sector inflation slowed, influencing the Bank of Japan's cautious rate decisions.
- On Friday, Japan's core consumer prices rose 2.9 per cent year-on-year in September, matching median market forecasts and accelerating from a 2.7 per cent August reading.
- Supply-Side pressure from energy costs and food prices, which rose 7.6 per cent excluding volatile fresh items, lifted headline inflation, with the core-core CPI easing to 3.0 per cent in September.
- Service-Sector prices rose 1.4 per cent while goods prices jumped 4.2 per cent, and the Bank of Japan exited stimulus last year, raising short-term interest rates to 0.5 per cent in January.
- The BOJ will scrutinise the data at a two-day meeting next week when the board debates keeping interest rates steady at 0.5 per cent and issuing fresh forecasts.
- Abhijit Surya of Capital Economics said `As things stand, both inflation excluding fresh food and inflation excluding fresh food and energy are on track to meet or overshoot the BOJ's forecast for the ongoing fiscal year`, but recent weeks' messaging remains cautious and the BOJ may wait until January before resuming rate hikes.
13 Articles
13 Articles
Inflation goes up in Japan due to rising food and energy prices
With this result, the 2 percent target set by the Bank of Japan (BoJ) was once again exceeded. The food sector, excluding fresh produce, experienced a 7.6 percent increase compared to the same month last year, according to data released by the Statistics Office of the Ministry of the Interior and Communications. Grains, and particularly rice—a mainstay of the Japanese diet—have been primarily responsible for the increase. Over the past year, the…
Japan’s Core Inflation Accelerates in September, Stays above BOJ Target
TOKYO, Oct 24 (Reuters) - Japan's core consumer prices rose 2.9% year-on-year in September, data showed on Friday, staying above the central bank's 2% target and keeping alive expectations of a near-term interest rate hike.
Japan's core inflation accelerates in September, stays above BOJ target
TOKYO :Japan's core consumer prices rose 2.9 per cent year-on-year in September, data showed on Friday, staying above the central bank's 2 per cent target and keeping alive expectations of a near-term interest rate hike.The data will be among factors the Bank of Japan (BOJ) will scrutinise at its two-day meet
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