URGENT: Core consumer prices in Japan rise 2.8% in Feb.

Economy

Core consumer prices in Japan rose 2.8 percent in February from a year earlier, government data showed Friday, with the key gauge of inflation accelerating for the first time in four months.

The nationwide core consumer price index, excluding volatile fresh food, was above the Bank of Japan’s 2 percent target for the 23rd straight month.

The BOJ delivered its first interest rate hike in 17 years at its policy meeting on Tuesday, shifting away from years of powerful monetary easing aimed at pulling Japan out of deflation.

Kyodo News

Kyodo News