Japan’s inflation ticked higher in March, coming in slightly above expectations, offering a small sign of progress in the Bank of Japan’s (BOJ) two-year-long effort to kick start the long-moribund economy.
“Inflation may not fall into the negative over the next few months after all,” Koichi Fujishiro, a senior economist at Dai-ichi Life Research Institute (DLRI), told CNBC.
Japan’s core consumer price index (CPI) for March rose 2.2 percent from a year earlier, topping expectations for a 2.1 percent rise from a Reuters poll. Excluding the effects of the consumption sales tax hike in April 2014, the nationwide consumer price index (CPI) rose 0.2 percent, above expectations for a 0.1 percent rise. It was flat in February for the first time since May 2013.