Japan's Core Inflation Accelerates Amid Weak Yen and War Costs

Japan's core consumer inflation accelerated in July from a year earlier as firms passed on rising import costs from a weak yen and the US-Israeli war on Iran, data showed. The data will be among the factors the Bank of Japan will scrutinize at its next policy meeting on September 17 and 18.

The central bank is widely expected to raise rates to 1.25% from 0%, bolstering the case for a rate hike. This decision comes after firms in Japan increased their prices due to import costs, which were exacerbated by a weak yen.