Japan's core consumer prices rose 2.8% in February, exceeding the Bank of Japan's 2% inflation target for the 23rd consecutive month.
Japan's core consumer prices rose 2.8% in February, accelerating for the first time in four months as state subsidies to curb energy costs lost their effect to mask overall price increases. The country's core consumer price index, excluding volatile fresh food, has been at or above the Bank of Japan's 2% inflation target for the 23rd straight month. This increase was driven by major contributors such as food and durable goods prices, as well as accommodation price hikes reflecting increased tourism demand. Energy prices slipped 1.7% compared with the 12.1% drop logged in January.
March 22, 2024
23 Articles