TOKYO (Reuters) – Japan’s core consumer prices rose 0.8% in May from a year earlier, data showed on Friday, keeping the central bank under pressure to maintain or even expand its massive stimulus program to achieve its elusive 2 percent inflation target.
The increase in the core consumer price index, which includes oil products but excludes volatile fresh food costs, matched a median market forecast and slowed from a 0.9% gain in April.
Data - Highlights - Challenge - Bank - Japan
The data highlights the challenge the Bank of Japan faces in spurring inflation toward its 2 percent target, as trade frictions and slowing global growth cloud the outlook for the world’s third-largest economy.
The so-called core-core CPI, which strips away the effects of volatile food and energy costs and is closely watched by the BOJ to gauge how much the economy’s strength has translated into price...
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