Japan's core inflation accelerates for 4th month in August

Prices for items other than fresh food rose 2.8% on year, up from 2.7% in July

20240920 CPI Japan

Japan's core inflation rate came in at 2.8% on the year in August, topping the government's 2% inflation target for the fourth straight month. (Photo by Yutaka Miyaguchi)

TOKYO (Reuters) -- Japan's core consumer inflation accelerated for the fourth straight month in August and tracked comfortably above the central bank's 2% target, data showed on Friday, keeping alive expectations for further interest rate hikes.

The data comes hours before the Bank of Japan concludes its two-day policy meeting, where it is widely expected to keep interest rates steady at 0.25%.

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