TOKYO: Core inflation in Japan's capital slowed in August for the second straight month but remained well above the central bank's 2 per cent target, data showed on Friday , keeping policymakers under pressure to phase out decades of massive monetary stimulus.
Analysts expect inflation to keep slowing in coming months reflecting recent declines in commodity prices and the base effect of last year's sharp rises. "The outlook depends largely on whether consumers can continue to weather price hikes. It's very hard, probably even for the BOJ, to predict the future path of inflation."
A spike in global commodity prices last year drove many Japanese companies to shed their aversion to price hikes and pass on higher costs to households, keeping inflation above the BOJ's target for longer than policymakers initially expected.
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