Japan lifts FY 2023 inflation outlook to 2.6%, above BOJ's target

Consumer inflation in Japan will accelerate faster than previously estimated to 2.6 percent in the fiscal year ending next March, the Cabinet Office said Thursday, well above the Bank of Japan's target.The government had estimated that consumer prices, which include energy and volatile fresh food items, would rise 1.7 percent in fiscal 2023. For fiscal 2024, prices are estimated to gain 1.9 percent.The economic outlook for fiscal 2023, meanwhile, has been downgraded by the government amid slowing export growth. Japan's real gross domestic product is now forecast to grow 1.3 percent, instead…READ FULL ARTICLE