Japan Trend Inflation Hits Three Year High
Japan trend inflation reached a three year high in September as broadening price pressures reinforce expectations for further interest rate hikes by the central bank. Service sector costs also rose sharply as firms passed on higher labor expenses.
Japan's core consumer price index rose 3.2% in September from a year earlier, hitting a three-year high and fueling rate hike expectations. The acceleration follows a 2.6% increase in August, reflecting broadening domestic price pressures. The data reinforces expectations that policymakers will continue raising borrowing costs to curb persistent inflation.
