Japan’s core inflation reached 2.1% in September, in line with the Reuters consensus, up from 1.7% in August. The increase was driven by higher energy prices, rising import costs linked to the weak yen and a shift toward more expensive US suppliers. Core-core inflation, the Bank of Japan’s preferred gauge, came in at 2.4%. After raising rates by 25 basis points in September, the central bank could hike them again this year, while the government is debating a temporary cut in the food consumption tax from 8% to 1%.
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