Japan’s core consumer inflation, excluding one-off factors, rose to 2.8% in April, surpassing the Bank of Japan’s 2% target.
Japan’s core consumer inflation, measured by a new Bank of Japan gauge excluding special factors, climbed to 2.8% year-on-year in April, up from 2.5% in March. The figure marks the highest level since the central bank introduced the revised index and exceeds its 2% inflation target for the second consecutive month.
The new index strips out institutional factors like education and energy subsidies, revealing a sharper rise than the government’s benchmark core CPI, which stood at 1.4%. Core-core CPI, excluding additional volatile items, rose 2.2% in April, slowing from 2.6% in March.
The USD/JPY pair showed a muted reaction, trading up 0.05% at 159.01 at the time of reporting.