Japan core inflation perks up in June, leaves BOJ rate hike open

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TOKYO :Japan's core consumer prices rose 2.6 per cent in June from a year earlier, data showed on Friday, accelerating for a second straight month and keeping alive market expectations that the central bank could soon raise interest rates.

Japan's economy shrank in the first quarter as companies and households reduced spending, casting doubt on the central bank's view of a moderate recovery.

A reduction in government subsidies aimed at curbing utility bills pushed up energy costs by 7.7 per cent year-on-year in June, up from a 7.2 per cent gain in May, helping to lift overall inflation.

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Article Details

Category: EconomyBusiness

Markets: SingaporeJapan

Topics: Cent Year Japan June Raise Bank Tokyo Rates Month Data Inflation

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-19 @ 07:37:22 (8 hours ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 537 words

Reading Time: 3 minutes read

Sentences: 17 lines

Sentence Length: 32 words per sentence (average)

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Copyright Owner: © Channel News Asia

News ID: 21678810

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