Published:
Japan's inflation inched higher to 0.9%
Blame it on rising energy prices.
According to BBVA Research, Japan's headline inflation inched higher to 0.9% y/y (consensus: 0.8%; Prior: 0.7%), on a continued rise in energy prices.
Here's more:
While the BoJ’s 2.0% inflation target may still be difficult to achieve (excluding food and energy, year-on-year inflation is still negative at -0.1%), today’s outturn does suggest further progress in combating deflation.
We project inflation to rise gradually towards 1.8% until 2017 (excluding the impact of an expected consumption tax hike in 2014-15).
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