Japan’s Inflation Picks Up as Oil Clouds Outlook Ahead of BOJ

Japan’s key inflation gauge accelerated for the first time in five months, suggesting price pressures were building even before the full impact of elevated oil prices ripples through the economy.

Japan’s core consumer prices excluding fresh food rose 1.8% from a year earlier in March, the Ministry of Internal Affairs and Communications said Friday. That topped the median economist estimate of 1.7% and compared with a 1.6% advance in the prior month. A slowing in the decline of gasoline prices supported the index.