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BOJ finds itself further behind 2% inflation target

Bank of Japan Gov. Haruhiko Kuroda

TOKYO -- Facing grim consumer price data, the Bank of Japan is looking at downgrading its price outlook and pushing back the time frame for achieving its 2% inflation target, during its policy meeting next week.

The consumer price index excluding fresh food prices fell 0.5% in September from a year earlier, Japan's internal affairs ministry announced Friday. That marks the seventh straight negative month. When food and energy prices are omitted, the index remained flat on the year, with the rate of increase down 0.2 point from August.

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