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UPDATE1: Japan's core consumer prices in October rise 3.0% on year
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Japan's core consumer prices in October rose 3.0 percent from a year earlier, boosted by higher food costs, official data showed Friday, fueling expectations that the central bank will raise its policy rate in the not-so-distant future to curb inflation. The increase in the nationwide consumer price index excluding volatile fresh food followed a 2.9 percent rise in September, the government said, underscoring the negative impact of import costs driven by the yen's sharp depreciation. The key gauge of inflation has remained at or above the Bank of Japan's 2 percent target since April 2022, according to the Ministry of Internal Affairs and Communications.