Japan's core inflation hits more than 2-year high, could force year-end BOJ hike

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Japan's core inflation hits more than 2-year high, could force year-end BOJ hike - Channel News Asia

Quick Summary:

TOKYO: Japan's core inflation accelerated at its fastest annual pace in more than two years in April, data showed on Friday (May 23), raising the odds of another interest rate hike by year-end.

"Underlying inflation remained strong in April despite the slashing of public high school fees," said Marcel Thieliant, head of Asia-Pacific at Capital Economics.

The price of rice spiked 98.6 per cent last month from a year earlier, while that of chocolate jumped 31 per cent.