The Bank of Japan is putting more emphasis on an inflation gauge that excludes fuel costs, and will likely raise its projections for the index’s growth in quarterly forecasts due this month, said three sources familiar with its thinking. | Reuters
“When stripping away one-off factors like government subsidies, trend inflation appears to be gaining momentum,” another source said, expressing a view echoed by the third.
But in April it also began issuing forecasts for “core-core” consumer inflation, which strips away the effect of both fresh food and energy costs, to better grasp the broad price trend driven by domestic demand. In fresh quarterly projections due this month, the BOJ would probably raise its core-core inflation forecasts for the current fiscal year ending in March and fiscal 2023, they said.
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