Japan’s inflation accelerated for a second straight month in June, bolstering the case for central bank officials to consider raising interest rates when they meet to set policy at the end of the month, according to Reuters.
Data showed that Japan's core CPI rose 2.6% year-on-year in June, higher than 2.5% in May and slightly lower than the 2.7% generally believed by economists.
The result extended the period of inflation at or above the Bank of Japan’s 2% target to a 27th month. The data largely mirrored the Tokyo Price Index released late last month, which showed an acceleration in price growth driven by rising energy costs.
