By Administrator_ India
Japan’s inflation edged into positive territory for the first time in 14 months as rising commodity costs fed higher gasoline prices at the pump, according to data that comes before a central bank policy decision later today.
Consumer prices excluding fresh food ticked up 0.1% compared with a year earlier, lifted by a 20% jump in gas prices, the ministry of internal affairs reported Friday. Economists had predicted flat prices overall.
While even the smallest uptick in inflation is likely to be seen positively by the Bank of Japan, price momentum is still far more subdued than in the U.S. and other countries where central banks are starting to project possible rate increases. The BOJ forecasts inflation staying below its 2% target for the foreseeable future, meaning its main stimulus will probably stay in place for years to come.