TOKYO : Japan's consumer inflation rate likely picked up in July for a third consecutive month, a Reuters poll of 18 economists showed, keeping the central bank on course to consider another rate hike after lifting short-term rates to 0.25 per cent last month.
TOKYO : Japan's consumer inflation rate likely picked up in July for a third consecutive month, a Reuters poll of 18 economists showed, keeping the central bank on course to consider another rate hike after lifting short-term rates to 0.25 per cent last month.
The core Consumer Prices Index , which excludes fresh food but includes energy items, likely rose 2.7 per cent year-on-year in July, ticking up from a 2.6 per cent rise in the previous month. That would put the inflation rate above the Bank of Japan's 2 per cent target for the 28th straight month, supporting BOJ officials' view that the central bank should keep normalising adjusting its ultra-easy policy if the economy and prices move in line with its projections.
Elsewhere in the poll, economists predicted exports likely rose 11.4 per cent on year in July, faster than June's 5.4 per cent gain. Imports were forecast to have grown by even faster 14.9 per cent, due in part to weak yen's impact on energy imports, versus 3.2 per cent in the previous month, leaving an estimated trade deficit of 330.7 billion yen .
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