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Japan CPI Sees Fourth Monthly Rise
Japan CPI Sees Fourth Monthly Rise

Japan CPI Sees Fourth Monthly Rise

Japan CPI Sees Fourth Monthly Rise

Japan’s consumer prices rose again in April due largely to higher energy bills, data showed Friday, underpinning a mixed picture for policy makers’ efforts to boost growth amid on-and-off deflation, AFP reported. The country’s prospects have been improving on the back of strong exports, with investments linked to the Tokyo 2020 Olympics also giving the economy a shot in the arm. The labor market is tight and business confidence is strong. But consumer spending remains tepid and the Bank of Japan has struggled to lift inflation despite years of aggressive monetary easing. After stripping out the volatile cost of fresh food, the inflation rate came in at 0.3%, the fourth consecutive monthly rise after a 0.2% increase in both March and February and a 0.1% rise in January. Excluding fresh food and energy, however, prices stayed flat, following a 0.1% fall in March and 0.1% rise in February, according to the internal affairs ministry. But Friday’s figures are still way off the Bank of Japan’s 2% inflation target—seen as crucial to conquering Japan’s long struggle to slay deflation, blamed for holding back the once-booming economy.

 

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