TOKYO : Japan's consumer inflation held steady above the central bank's target in March and an index excluding fuel costs rose at the fastest annual pace in four decades, data showed, indicating broadening price pressure in the world's third-largest economy.
"But there's still a lot of uncertainty on whether wages will rise durably and underpin consumption, which may keep the BOJ in a holding pattern." An index stripping out the effect of both fresh food and energy, which is closely watched by the BOJ as a better gauge of underlying price trends, rose 3.8 per cent in March from February's 3.5 per cent and accelerated for the 10th straight month.
Services prices rose 1.8 per cent in March year-on-year, faster than a 1.5 per cent gain in February, with restaurants charging 7.6 per cent more than year-before levels.
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