Consumer prices in Japan were unchanged from a year earlier in July, underscoring the struggle the Bank of Japan (BOJ) faces in achieving its 2 percent inflation target and building the case for additional monetary stimulus.
The core consumer price index (CPI), which excludes volatile prices of fresh food but includes prices of oil products, was flat in July from the year-ago period, government data showed on Friday, compared with Reuters’ forecast for a drop of 0.2 percent and down from a 0.1 percent rise in June.
The core Tokyo CPI for August, considered a leading indicator, dipped 0.1 percent on year, unchanged from the previous month and a touch better than predictions for a 0.2 percent fall.
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