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Japan's inflation rises to 3% in June

Japan's inflation rises to 3% in June

Posted on July 19, 2024 |

Japan's inflation increased slightly to 2.6% in June, up from 2.5% in May.

The core Consumer Price Index (CPI), excluding fresh food prices, rose 2.6%, falling short of the 2.7% market expectation.

Analysts are predicting when the Bank of Japan might raise interest rates again, following its first rate hike since 2007 in March.

The Bank of Japan recently announced plans to reduce its large-scale government bond purchases, shifting away from its quantitative easing program.

Japan has seen milder inflation compared to the United States and other major economies in recent years.

The Bank of Japan's goal is to achieve a 2% inflation rate driven by higher demand and wage growth.

Japan's inflation trends are less severe compared to the high inflation challenges faced by other major economies.