Japan core consumer inflation hits 41-year high of 3% in FY 2022

Consumer inflation in Japan accelerated to 3.0 percent in fiscal 2022 through March, the fastest pace in 41 years and above the Bank of Japan's 2 percent target, in what the central bank views as a blip caused by higher import costs and a weaker yen, government data showed Friday.In March, the nationwide core consumer price index, excluding volatile fresh food items, climbed 3.1 percent from a year earlier. Government energy subsidies helped eased some inflationary pressures but the key gauge of inflation still remained above the BOJ target for a year.Japan has seen more evidence of broaden…READ FULL ARTICLE