Japan inflation hits highest level for a decade

Japanese annual inflation jumped 2.4% in July, up from 1.9% in June.

Higher petroleum product prices precipitated the increase, which sees inflation rise above 2% for the first time in a decade.

The Bank of Japan said earlier this month that inflation would surge in the coming months before falling in the final quarter. The market impact to the announcement was muted due to the central bank's forecast.

Annual inflation for the Tokyo area eased slightly from 1.6 % in July to 1.5% this month, pr

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