Japan's core consumer inflation accelerated in June but stayed below the Bank of Japan's 2% target for the fifth consecutive month, underscoring that companies are yet to fully pass higher input costs on to consumers, according to government data, as per a Reuters report.
The core consumer price index (CPI), which excludes volatile fresh food prices, rose 1.6% year-on-year in June, matching market expectations and quickening from a 1.4% increase in May. According to Reuters, the increase was partly driven by the base effect of last year's sharp decline in gasoline prices following government subsidies.
