1.9%: Japan’s National CPI steadies in August
Japan’s National Consumer Price Index (CPI) climbed by 1.9% YoY in August, compared to the previous reading of 1.9%, according to the latest data released by the Japan Statistics Bureau on Friday.
Japan's August Consumer Price Index (CPI) remained steady at 1.9% year-over-year, according to the latest data from the Japan Statistics Bureau. The index excluding fresh food rose to 1.7% YoY, a slight drop from the 1.8% in the previous month. The figure fell short of market expectations of 1.8%. Excluding fresh food and energy, the CPI climbed to 1.7% YoY.
The USD/JPY pair saw a minor decline of 0.15% to 156.03 on the day. The Bank of Japan, the country's central bank, has been pursuing an ultra-loose monetary policy since 2013, aiming for a 2% inflation target. This policy involved quantitative and qualitative easing, or printing money to buy assets and provide liquidity. In March 2024, the Bank of Japan began tightening policy, ending its ultra-loose stance.
The weaker yen and rising global energy prices contributed to Japan's inflation surpassing the central bank's target. The prospect of rising salaries also played a role. Investors are closely watching the Bank of Japan's policy decisions for further guidance on the country's economic outlook.
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Also reported by 2 other outlets
- Japan August inflation slows ahead of expected rate hike channelnewsasia.com
- Japan’s core August inflation slows to 1.7% freemalaysiatoday.com
