TOKYO : Japan's core consumer prices rose 3.1 per cent in March from a year earlier, data showed on Friday, staying above the central bank's target of 2 per cent as companies continued to pass on rising costs to households.
The increase in the nationwide core consumer price index , which excludes volatile fresh food, but includes energy costs, matched a median market forecast. The so-called"core core" CPI, which strips out the effect of both fresh food and energy, rose 3.8 per cent in March from a year earlier, accelerating the pace of increase for the 10th straight month, the government data showed.
BOJ officials, including new governor Kazuo Ueda, have vowed to keep monetary policy ultra-loose until there is more evidence that the rise in inflation has become sustainable and driven by strong demand rather than supply pressures.
Source: News Formal (newsformal.com)
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