Japan’s consumer inflation eased more than expected while staying above the Bank of Japan’s target as board members get ready to revise their price forecasts next week.
Consumer prices excluding fresh food rose 2.6% in March from a year ago, cooling from February’s 2.8% gain, the internal affairs ministry reported Friday. The reading compared with the consensus estimate of 2.7%. A deeper measure of inflation that strips out fresh food and energy prices cooled to 2.9%, slipping below 3% for the first time since November 2022 and missing the 3% estimate.