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Japan's inflation tops BOJ target for 2nd month in test of monetary stance

Channel News Asia LogoChannel News Asia1w ago

Japan's inflation tops BOJ target for 2nd month in test of monetary stance

Quick Summary

TOKYO :Japan's annual core consumer inflation topped the central bank's target for a second straight month in May, data showed on Friday, highlighting the intensifying pressure on the country's fragile economy from soaring global raw material costs.

It stayed above the BOJ's 2 per cent target for a second straight month, following a 2.1 per cent rise in April which was the fastest pace of increase in seven years.

In a glimmer of hope, separate data released by the BOJ on Friday showed the price companies pay each other for services rose 1.8 per cent in May year-on-year.


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Article Details

Category: Economy

Topics: Cent Food Wage Growth Pace Bank Costs Showed Data Inflation Prices

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-06-24, 07:34:28

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Reading Time: 4 minutes read

Article Length: 575 words

Coverage Area: Singapore

Availability: Desktop Web, Mobile Web

News ID: 6720

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About Channel News Asia

Main Topics: Economy

Official Website: channelnewsasia.com

Update Frequency: 23 posts per day

Year Established: 1999

Headquarters: Singapore

News Last Updated: 2h ago

Coverage Areas: Singapore

Ownership: Independent Company

Publication Timezone: GMT +8:00

News Language: English

RSS Feed: Available (XML)

Website Security: Secure (HTTPS)

Publisher ID: #27

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