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Japanese inflation rises 0.5% for second month as fuel costs surge

CPI growth at fastest pace in almost two years but remains below BOJ's 2% target

TOKYO (Financial Times) -- Japanese inflation rose 0.5% last month compared to the previous year, increasing at its fastest pace in almost two years for a second consecutive month as rising energy costs added to pressure on households.

The government said on Friday that consumer prices grew at the same rate as in November, the largest increase the largest rise since February 2020 and the fourth consecutive monthly rise. The consumer price index excluded fresh food but covered energy costs, which rose 16.4%.

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