TOKYO :Core inflation in Japan's capital perked up in June and remained above the central bank's 2 per cent target for the 13th month, a sign price hikes were spreading to broader sectors of the economy and keeping policymakers pressured to dial back ultra-easy policy.The data for Tokyo, which is seen as a le
TOKYO :Core inflation in Japan's capital perked up in June and remained above the central bank's 2 per cent target for the 13th month, a sign price hikes were spreading to broader sectors of the economy and keeping policymakers pressured to dial back ultra-easy policy.
"Inflationary pressure remains fairly strong as there are few signs companies are done hiking prices," said Yoshiki Shinke, chief economist at Dai-ichi Life Research Institute. An index that strips away both fresh food and fuel costs rose 3.8 per cent in June from a year earlier after a 3.9 per cent gain in May, the data showed.Aside from an increase in utility bills that kicked off in June, Tokyo consumers paid 9.6 per cent more than year-before levels for a box of sushi and 17 per cent for hamburgers, the June data showed.
A survey by Teikoku Databank on 195 food goods producers showed they plan to raise prices for a combined 3,385 items in October, a report released by the think tank showed on Friday. Markets are focusing on the BOJ's new quarterly growth and inflation projections due at its next rate review on July 27-28, for clues on how soon the central bank could phase out stimulus.
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