Japan’s Inflation Holds Above BOJ Target Amid Rate Hike Bets

Japan’s key inflation gauge held above the central bank’s target even as price gains moderated a tad, in data largely supporting the central bank’s view that underlying inflation remains solid.

Consumer prices excluding fresh food rose 2.3% in October from a year earlier, down from 2.4% in September, the Ministry of Internal Affairs reported Friday. That was above the consensus estimate of 2.2%. An index excluding energy costs and fresh food prices gained 2.3%, up from 2.1%.