Japan CPI inflation grows slightly less than expected in June
Investing.com-- Japanese consumer price index inflation grew a touch below expectations in June as consumer spending picked up only slightly, brewing more uncertainty over just when the Bank of Japan will raise interest rates further., which excludes volatile items such as fresh food, rose 2.6% year-on-year in June, missing expectations of 2.7% but rising from the 2.5% seen in the prior month.
A core reading that excludes both fresh food and fuel prices, and is watched closely by the BOJ for cues on underlying inflation, grew 2.2% in June, picking up slightly from the 2.1% seen in May. But the reading remained close to near two-year lows.The inflation data showed some pick-up in spending, coming after recent data showed Japanese average wages were picking up from years of laggard growth.
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