Inflation in Japan accelerated in March to 0.8%, but remained below the target of the Bank of Japan

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In March of this year, the index of basic consumer prices in Japan, which does not take into account the prices of fresh food, rose from the same month a year earlier by 0.8%, official data show. Inflation accelerated against the February value of 0.7%, while experts had not expected it to change. At the same time, the basic consumer price index, which does not take into account the prices of food and energy, showed an increase of only 0.4% in March, just like a month earlier. The Bank of Japan is unable to ensure that core inflation approaches its target of 2%. Global demand slowed down over the past 12 months amid the US-China tariff war, which adversely affected Japanese exports. Experts expect that the recent decline in oil prices could lead to a drop in gas and electricity prices, and it will be even harder for the Bank of Japan to generate inflation.

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