Tokyo¡¯s key inflation gauge picked up for the first time in eight months, keeping the Bank of Japan?on a trajectory to raise interest rates further.
The consumer price index (CPI) excluding fresh food rose 1.6% in June from a year earlier in the capital, according to data from the Ministry of Internal Affairs and Communications released Friday. The reading was in line with the median forecast in a Bloomberg survey of economists.
Forecasters predicted the gauge would accelerate from last year¡¯s reading, which was depressed by certain government relief measures.
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