Japan core consumer prices rise 2.8% to nearly 8-yr high

Japan's core consumer prices surged 2.8 percent to a nearly eight-year high in August, in the latest sign of cost-push inflation accelerated by a weak yen to the detriment of consumers, government data showed Tuesday, heaping pressure on the dovish Bank of Japan.The nationwide core consumer price index, which excludes volatile fresh food items, marked the fastest pace of increase in over three decades, without the effects of past consumption tax hikes.The key gauge of inflation stayed above the BOJ's 2 percent target for the fifth month, accelerating from 2.4 percent in July, the Ministry o…READ FULL ARTICLE