According to Jinshi, inflation in Japan accelerated after the Japanese government raised taxes related to renewable energy. In May, Japan's core CPI annual rate was 2.5%, higher than 2.2% in the previous month. This result supports the possibility of the Bank of Japan raising interest rates in the coming months. The Bank of Japan has said that it will provide details of its bond purchase reduction plan next month. When asked whether the authorities are likely to raise interest rates while announcing a reduction in the bond purchase plan, Bank of Japan Governor Kazuo Ueda replied, "Of course," as long as the data supports doing so.