Japan inflation 3.4% in April, meeting market expectations


Japan’s consumer prices rose 3.4 percent on-year in April, in line with market expectations, government data showed Friday.

The figure, which excludes volatile fresh food prices, followed a 3.1 percent rise recorded in both March and February.

Inflation in Japan is lower than the sky-high price increases seen in the United States and elsewhere that have prompted central banks to hike interest rates.

Yet it remains higher than the Bank of Japan’s two percent target, which has been surpassed every month since April last year.

The Japanese central bank argues that the price rises are fuelled by temporary factors, such as the war in Ukraine.— AFP