The consumer price index excluding fresh food rose 1.7% in August from a year earlier, easing from a 1.8% pace in July.
Japan’s inflation slowed for the first time in four months, largely reflecting the effect of government subsidies, in data released hours before the Bank of Japan is expected to announce an interest rate hike. The consumer price index (CPI) excluding fresh food rose 1.7% in August from a year earlier, easing from a 1.8% pace in July, the Ministry of Internal Affairs and Communications said Friday. Economists had expected the rate to remain unchanged.
While the data showed a slight slowing of inflation, the reading isn’t likely to change the calculus on Friday’s BOJ rate decision, especially given widespread expectations that the price trend will pick up in the coming months.
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