Japan Inflation Stays Hot at 3.1%, Core CPI Tops Forecasts

Source : https://www.dailysabah.com/business/economy/bank-of-japan-keeps-rates-steady-lowers-growth-forecasts

Japan’s inflation showed no signs of cooling in July, with the Consumer Price Index (CPI) rising 3.1% YoY, slightly down from June’s 3.3% but still above expectations. The core CPI, which excludes fresh food, also came in at 3.1%, beating forecasts of 3.0%.

CPI excluding both fresh food and energy was steady at 3.4% YoY, indicating that underlying price pressures remain firm. With inflation still well above the Bank of Japan’s 2% target, investors are watching closely to see if the central bank adjusts its ultra-loose policy stance.

Following the release, the USD/JPY pair slipped marginally by 0.03% to 148.32, as traders reassessed the outlook for monetary policy in Tokyo.

Source: FXStreet