Japan's core inflation falls to lowest level in 22 months

Core CPI, which excludes fresh food, slows to 2%, matching BOJ target

20240226 japan's supermarket

A person shops at a supermarket in Tokyo. (Photo by Nanami Sato)

CHIHIRO ISHIKAWA, Nikkei staff writer

TOKYO -- Japan's core inflation in January dropped for the third straight month to hit its lowest level in 22 months, matching the central bank's price stability target.

The core consumer price index, which excludes fresh food, rose 2% from a year earlier, a decline from a 2.3% gain in December, according to data released Tuesday by the Ministry of Internal Affairs and Communications.

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