Japan's core inflation stays below target

Core inflation in Japan remained below the Bank of Japan's 2% target for the fourth consecutive month, rising by 1.4% year-over-year in May. Excluding fresh food prices, it increased by 1.8%. This is due to the impact of rising raw material costs and the pressures stemming from the conflict in the Middle East, despite interest rates being raised to their highest level in 31 years. Analysts expect inflation to accelerate in the coming months, paving the way for further monetary tightening measures by the bank.

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