Japan’s inflation breaches 2% target
High import prices a key driver as flat wages drag demand
Japan’s inflation has exceeded the central bank’s target of 2% for the first time in seven years. The Bank of Japan’s target measure, all items less fresh food, hit 2.1% in April, its highest level since 2015. Inflation rose for the eighth month in a row.
Significant upward pressures come from fuel, light and water charges which rose 15.7% in April and 16.4% in March. Food prices have also risen at their fastest rate in seven years – 4% in April, up from 3.4% in March.
The BoJ has taken a
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