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

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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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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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