Indicators
Japan’s Inflation Accelerates on Energy as BOJ Seeks More Data
- Winding down of government energy subsidies boosts inflation
- Ishiba set to reinstate subsidies January as part of package
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Japan’s key inflation gauge strengthened on the waning impact of government energy subsidies as the central bank continues to parse data before deciding on the timing of its next interest rate hike.
Consumer prices excluding fresh food rose 2.7% in November from a year earlier driven by higher energy costs, the Ministry of Internal Affairs reported Friday. That came in above a consensus estimate of 2.6%, and was higher than October’s 2.3% increase. An index excluding energy costs and fresh food prices advanced 2.4%, up from 2.3%.