A rise in Japan’s key inflationary gauge Friday raised hopes that the world’s third-largest economy was on course to expel its inflationary demons, but analysts told CNBC there was still much work to be done.
Japan’s nationwide core consumer price index (CPI) climbed 0.7 percent on year in September. While slightly lower than August’s 0.8 percent rise, the rise marked the fourth consecutive uptick.
The steady rise will be welcomed by the country’s central bank governors, who are aiming to reach a target of 2 percent inflation by the end of 2014, as part of the government’s plan to radically overhaul the economy and end 15 years of deflation.
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