TOKYO — Japanese inflation slowed in September with prices up 2.4 percent on-year, not including volatile fresh food, official data showed on Friday.
The core consumer price index eased from 2.8 percent in August as the pace of increase in electricity and gas prices relented, the internal affairs ministry said.Despite the slowdown, the rate remained above the Bank of Japan's 2 -percent target, set over a decade ago as part of efforts to boost the stagnant economy.The target has been surpassed every month since April 2022, although the bank has questioned to what extent that is down to temporary factors such as the Ukraine war.
'The Bank of Japan raised interest rates in March for the first time since 2007 and again in July, in initial steps toward normalizing its ultra-loose monetary policies.New Prime Minister Shigeru Ishiba said this month that the environment was not right for another interest rate increase.After Ishiba took office in early October, perceptions that he favored hiking borrowing costs and the possibility that he could raise taxes triggered a surge in the yen and stock market volatility.
Core Inflation Rate Slows In September
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