Japan's core inflation accelerates again

VTV.vn - Japan's core inflation increased 2.9% in September 2025, accelerating for the first time in four months, exceeding the BoJ's 2% target.

People shop at a store in Tokyo, Japan. (Photo: AFP/TTXVN)

Japan's core consumer price index (CPI), which excludes volatile fresh food prices but includes fuel prices, continued to rise in September 2025, exceeding the Bank of Japan's (BoJ) target of 2%, rising 2.9% year-on-year, data released on October 24 showed.

The Japanese Ministry of Internal Affairs and Communications said the CPI accelerated for the first time in four months, after rising 2.7% in August 2025. Inflation has exceeded the BoJ's target since April 2022, the ministry said.

The price index excluding both fresh food and volatile fuel prices, which is watched more closely by the BoJ as it better reflects underlying price trends, rose 3% year-on-year in September 2025, compared with a 3.3% increase in August 2025.

The new inflation data will be among the factors the BoJ will scrutinize at its two-day meeting next week, when it considers whether to keep interest rates on hold at 0.5% and issue new quarterly growth and price forecasts.

Last year, the BoJ ended a decade-long stimulus program and raised short-term interest rates to 0.5% by January 2025, judging that Japan was on track to sustainably achieve its 2% inflation target.

While consumer price inflation has exceeded the BoJ's 2% target for more than three years, Governor Kazuo Ueda has stressed the need to be cautious in raising interest rates further due to uncertainty about the impact of US tariffs on the Japanese economy.

Source: https://vtv.vn/lam-phat-loi-nhat-ban-tang-toc-tro-lai-100251024155522157.htm