Japan's core inflation rate slowed to 2.3%, with food prices rising despite government subsidies.

Japan's core inflation rate, excluding fresh food, slowed to 2.3% year-over-year in October, marking a second consecutive month of deceleration. This decline is partly due to government subsidies that have helped reduce energy costs. Despite the slowdown, inflation remains above the Bank of Japan's 2% target. Food prices, particularly rice and chocolate, saw significant increases, while service prices also rose. Economists predict a possible rate hike at the BOJ's December meeting if inflation and the economy continue to grow as expected.

November 22, 2024
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