2024-07-20 08:39:43
In Japan, consumer prices rose by 2.8% year-on-year in June 2024, the Ministry of Internal Affairs and Communications reported, Day.Az reports with reference to Interfax.
The growth rate remained at the level of the previous month, which is the highest level since February.
Prices excluding fresh food, a key indicator tracked by the central bank, rose by a three-month 2.6% in June, following a 2.5% rise in May. The consensus forecast from experts cited by Trading Economics was for a 2.7% increase.
Japan’s key inflation gauge has been hovering at or above the central bank’s target of 2% for more than two years.
The cost of electricity in the country increased by 13.4% last month, food prices increased by 3.6%, transportation services by 2.5%, clothing by 2.2%, and medical services by 1.4%.
Inflation excluding food and energy products was 2.2% compared to 2.1% a month earlier.
Consumer prices in Japan rose 0.3% in June from the previous month. They rose 0.5% in May.
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