Japan’s inflation slowed in June, highlighting the task Bank of Japan Governor Haruhiko Kuroda faces in reaching the bank’s target.
Consumer prices excluding fresh food rose 3.3 percent from a year earlier after a 3.4 percent gain in May, the statistics bureau said today in Tokyo. The increase matched the projection in a Bloomberg News survey of 32 economists.
Kuroda has said inflation will ease in coming months before accelerating later this year toward the BOJ’s 2 percent goal, which strips out the effects of a sales-tax increase in April. As the impact of the yen’s slide on prices fades, some economists say the central bank may add stimulus should price gains drop below 1 percent — a level Kuroda forecast they wouldn’t break.
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