TOKYO: Japan's core consumer prices stopped falling for the first time in just over a year in August, government data showed, a source of solace for the central bank struggling to accelerate inflation towards its elusive 2 per cent target.
That matched a flat reading expected by economists in a Reuters poll, following a 0.2 per cent decline seen in July. The so-called core-core inflation index, which excludes food and energy prices and is similar to the core index used in the United States, fell 0.5 per cent in August from a year earlier.
Kuroda has argued that the price trend remained firm and that inflation would gradually accelerate as output gap improves and inflation expectations rise, although inflation is unlikely to reach 2 per cent through the end of Kuroda's five-year term in 2023.
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