Japan's core consumer prices in July rise 1.8% on year
TOKYO (Kyodo) -- Japan's core consumer prices in July rose 1.8 percent from a year earlier, government data showed Friday.The increase in the nationwi
Japan's core consumer prices increased by 1.8% in July compared to the previous year, according to government data released on Friday. This represents the largest year-over-year jump since January, largely fueled by rising food prices due to the conflict in Iran and mounting energy costs linked to high crude oil prices. The Bank of Japan may be set to raise its benchmark interest rate next month in response to this inflationary trend.
The central bank has warned of potential upside risks to inflation, citing factors such as a weaker yen affecting import costs, soaring crude oil prices, and growing demand for artificial intelligence technologies. The nationwide consumer price index, excluding volatile fresh food, climbed by 1.6% in June and remained under 2% for the seventh straight month, according to the Ministry of Internal Affairs and Communications.
The core Consumer Price Index (CPI), which excludes energy and food prices, rose by 1.9% in July, down from 2.0% in the previous calculation period.
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