The Economic Information Agency reported on the 2nd that data released by Japan's Ministry of Internal Affairs on Friday showed Tokyo's core consumer price index (CPI), excluding fresh food but including fuel costs, rose 2.7% year-on-year in September. The figure exceeded the median economist forecast of 2.3%, following last month's increase of 1.8%. Meanwhile, Japan's unemployment rate in August was 2.5%, higher than the expected 2.4%.
When excluding both fresh food and energy prices, the so-called "core-core" CPI rose 3% in September, surpassing the 2% increase in August. This index is closely watched by the Bank of Japan and is regarded as a better measure of inflation.
These latest figures highlight mounting price pressures, providing strong support for expectations of further interest rate hikes by the Bank of Japan. The Bank will hold its next monetary policy meeting on October 29 to 30. (yc)
When excluding both fresh food and energy prices, the so-called "core-core" CPI rose 3% in September, surpassing the 2% increase in August. This index is closely watched by the Bank of Japan and is regarded as a better measure of inflation.
These latest figures highlight mounting price pressures, providing strong support for expectations of further interest rate hikes by the Bank of Japan. The Bank will hold its next monetary policy meeting on October 29 to 30. (yc)
