Japan core consumer prices in Jan. rise 3.2% on year on rice, energy

Japan's core consumer prices in January rose 3.2 percent from a year earlier, the fastest pace in 19 months, due to higher rice and energy costs, government data showed Friday.The growth in the nationwide core consumer price index, excluding volatile fresh food, accelerated for the third straight month, having climbed 3.0 percent in December and 2.7 percent in November, according to the Ministry of Internal Affairs and Communications.The inflation rate, a key indicator for the Bank of Japan in determining the timing of rate hikes, has remained at or above its 2 percent target since April 20…READ FULL ARTICLE