Japan’s consumer price inflation aligns with market forecast

The figure for the world’s third-largest economy, which excludes volatile fresh food prices, followed a 3.3-percent reading in June.

Friday’s core consumer price index figure matched market expectations of 3.1 percent recorded in a Bloomberg survey. Inflation in Japan has been less extreme than price hikes seen in other major economies such as the United States, which have been fueled by the war in Ukraine and supply-chain disruptions.

But the central bank sees recent price increases as driven by temporary factors, and so has stuck to its easing policies such as maintaining a negative interest rate.

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