Japan July headline inflation has risen to 2.6% Y/Y amid surging fuel and food cost, above expectations of 2.2%

Aug. 19, 2022 1:08 AM ETBy: Meghavi Singh, SA News Editor
  • The annual inflation rate in Japan rose to 2.6% in July 2022 from 2.4% in June. That was above expectations of 2.2% and higher than the Bank of Japan’s goal of 2.0%.
  • This was the 11th straight month of increase in consumer prices and the fastest pace since April 2014, amid surging fuel and food cost following Russia's invasion of Ukraine as well as a sharply weakening yen.
  • The ex food & energy is the closest the US measure of core CPI, which is still well below 2% but is at its highest since December of 2015.
  • Core consumer prices were at 2.4% Y/Y, the most since December 2014, after a 2.2% rise in June and matching forecasts.

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