Japan Inflation Outpaces Expectations Ahead of BOJ Decision
- Energy drags more on prices but hotel fees add to gains
- Analysts expect BOJ to keep policy unchanged later Friday
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Japan’s consumer inflation outpaced expectations in data published hours ahead of the central bank’s policy decision, casting some doubt over the Bank of Japan’s price outlook.
Consumer prices excluding fresh food rose 3.1% from a year ago in August, unchanged from the previous month, the internal affairs ministry reported Friday. Energy dragged more on prices while hotel fees boosted them, with gains in processed food costs continuing to be the biggest factor behind inflation. Analysts had expected the reading to slow to 3.0%.