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Financial News: Bank Of Japan's Core Inflation Measure Rises Further

Bank Of Japan's Core Inflation Measure Rises Further

11/22/2022 - 03:12:00 (RTTNews)

(RTTNews) - Japan's measure of underlying inflation accelerated in October, data released by the Bank of Japan's Research and Statistics Department showed on Tuesday.

The core consumer price index, which is obtained by removing transitory disturbances from the actual movements observed in the CPI, rose 2.7 percent annually in October following a 2.0 percent gain a month ago. Economists had expected an inflation rate of 2.2 percent.

This was the fastest rate of core inflation since the rate of growth began in June last year.

Rather than focusing on a single core inflation measure, the Bank of Japan focuses on identifying the trends of price movements with greater accuracy by examining various core inflation measures.

Government official data released last week showed that Japan's consumer price inflation rose to a 40-year high in October as a weaker yen lifted prices of imported goods.

Core inflation that excludes fresh food advanced to 3.6 percent from 3.0 percent a month ago, data said. This was the strongest since early 1982.

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