Japan's core inflation grows to 3.5% in Apr; hits more than 2-yr high

Excluding energy, prices rose by 3 per cent compared to 2.9 per cent in March, internal affairs ministry data showed.

Underlying inflation has been above the central bank’s 2-per cent target rate for around three years. The bank kept its main interest rate steady at its last meeting in early May.

But the central bank cautioned that tariffs are fuelling global economic uncertainty and revised down its economic growth forecasts for Japan, according to media reports from the country.

Japan's core inflation rate expanded in April this year to 3.5 per cent, official data showed. Overall unadjusted inflation was 3.6 per cent, the same level as it was in March.

Excluding energy, prices rose by 3 per cent compared to 2.9 per cent in March, internal affairs ministry data showed.

Underlying inflation has been above the central bank’s 2-per cent target rate for around three years. The bank kept its main interest rate steady at its last meeting in early May.

But the central bank cautioned that tariffs are fuelling global economic uncertainty and revised down its economic growth forecasts for Japan, according to media reports from the country.

ALCHEMPro News Desk (DS)