BOJ's Inflation Gauge Surpasses 2% Target for First Time in Months

The Bank of Japan's (BOJ) inflation gauge that excludes fresh food and special factors rose 2.6% year-on-year in August, up from 2.3% in July.

A separate BOJ measure that strips out non-fresh food, energy, and special factors increased to 1.8% year-on-year, up from 1.6% previously.

The report comes after the BOJ raised its policy rate last week at a quicker pace and warned of the risk that inflation could run above its 2% objective.