Japan Inflation Hits 3% for First Time Since 1991 Excluding Tax Hike Impacts
- Inflation hits 3% for first time since 1991 ex-tax impact
- Kuroda argues wage gains are needed for price goal to be met
The Bank of Japan will reportedly raise the core consumer inflation forecast for the current year to the upper half of the 2% range.
Photographer: Soichiro Koriyama/BloombergThis article is for subscribers only.
Japan’s inflation hit 3% for the first time in over three decades excluding the impact of tax hikes, an acceleration that adds to the doubts over the need for continued central bank stimulus.
The rise in September’s consumer prices excluding fresh food from a year ago, matched analysts’ forecast. The inflation reading was the highest since 1991 outside a jump in 2014 when prices were impacted by an increase in the sales tax.