Japan Core Inflation Surges Amid Weakened Yen

Japan's core inflation rate accelerated in July, according to data released on Friday. The core consumer price index (CPI), which excludes volatile fresh food prices and includes energy-related items, rose by 1.8% from a year earlier.

This is the highest increase since June, when it also reached 1.6%. However, despite this growth, Japan's inflation rate remains below the Bank of Japan's target of 2%, which has not been met for seven consecutive months.

The main driver behind this rise in inflation is the effect of a weak yen on import costs. The ongoing conflict between the US and Iran may also be contributing to higher prices.