Japan's Core Inflation Hits 2.1% in September
Price index accelerates past previous month's levels due to energy and import costs
Macroeconomics Editor: Fabricio Marcilio 1 min read
Core inflation in Japan reached 2.1% in September. This result marks the highest level recorded in the country throughout this year.
The indicator surpassed the 1.7% pace observed in the previous month. The data excludes fresh food prices and aligned with market analyst estimates.
Rising prices reflect the impact of import costs driven by a weak yen. Sectors such as industrial products saw a 3.9% increase which is the highest level in thirteen months.
The inflation index that excludes energy and fresh food, monitored by the Bank of Japan, stood at 2.4%. The government notes that the country is going through a transition period toward inflation supported by wage growth.
The Bank of Japan raised interest rates to 1.25% in September. Persistent inflation above the 2% target strengthens the possibility of further monetary adjustments later this year.
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