Core consumer prices in Japan's capital rose 3.2% in June from a year earlier, exceeding the central bank's 2% target for the 13th straight month in a sign of broadening inflationary pressure, government data showed on Friday.
Separate data showed factory output fell more than expected in May, underscoring risks to the export-reliant economy as aggressive U.S. interest rate hikes and soft Chinese growth cloud the outlook for global demand.
The increase in the Tokyo core consumer price index , which excludes volatile fresh food but includes fuel costs, followed a 3.1% gain in May and compared with a median market forecast for a 3.3% rise. Japan's economy is finally recovering from the scars of the COVID-19 pandemic, though risks of a global slowdown and rising food prices hang over the outlook for exports and consumption.
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