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Japan's CPI rises 2.8% year on year in August: government

From asia.nikkei.com

Japan's core consumer inflation quickened to 2.8% in August to hit the fastest annual pace in nearly eight years, data showed on Tuesday, a sign inflationary pressures from higher raw material costs and a weak yen were broadening. While core consumer inflation exceeded the central bank's 2% target for five straight months, the Bank of Japan is unlikely to raise interest rates anytime soon as wage and consumption growth remain weak, analysts say. The data highlights the dilemma the BOJ faces as it tries to underpin a fragile economy by maintaining ultralow interest rates, which in turn is fueling an unwelcome slide in ... (full story)

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