18 polled economists forecast Japan's July inflation rate to rise, likely spurring more interest rate hikes.

18 economists polled by Reuters predict Japan's consumer inflation rate increased for a third consecutive month in July, supporting the likelihood of more interest rate hikes. Core CPI is estimated to rise 2.7% YoY, surpassing the Bank of Japan's 2% target for the 28th month. Japan's economy expanded 3.1% in Q2, and exports are projected to grow 11.4% YoY in July, while imports are expected to increase 14.9% YoY, resulting in a trade deficit.