Japan’s core consumer prices hit 8-year high, rise 3% YoY in Sep

Core consumer prices in Japan rose 3 per cent in September to a fresh eight-year high from a year earlier, the government said in a report on Friday.

According to the Ministry of Internal Affairs and Communications, the nationwide core consumer price index, excluding volatile fresh food items, exceeded the Bank of Japan’s 2 per cent target for the sixth straight month.

This was due to the Japanese yen’s drop to 32-year lows against the dollar, pushing up import costs in the reporting period, Xinhua news agency reported, citing the ministry’s data.

The statistics bureau said inflation in Japan rose for the 13th straight month as commodity prices continued to rise while the Japanese currency sank, including to a series of more than three-decade lows against the dollar, in the recording period.

–IANS

int/sha

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