Economy
Japan's inflation continues to exceed central bank target
Japanese energy, food prices rise 16.5%, 3.7%, respectively, year-on-year in June
Gökhan Ergöçün |
22.07.2022 - Update : 22.07.2022
ISTANBUL
Japan's annual inflation came in at 2.4% in June, exceeding the central bank's inflation target for the third month in a row, official figures showed on Friday.
The country's annual inflation rate was 2.5% both in April and May, while it was 1.2% in March and minus 0.5% in June 2021.
On Thursday, the Bank of Japan decided to maintain its ultra-low interest rates at minus 0.1%, while it increased its inflation target from 1.9% to 2.3% for 2022.
The statistical department data showed that the annual inflation rate was 16.5% for energy and 3.7% for food.
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