Japan's Core Inflation Edges Up to 1.6% Amid Energy Price Pressures

Japan's core inflation rate edged up to 1.6% in June, matching market expectations and rising from a four-year low of 1.4% in May.

The increase is attributed to higher global oil prices and the weaker yen, which have increased pressure on import costs.

Despite energy prices declining just 0.1% from a year earlier, fuel, electricity, and water charges were unchanged annually for the first time after six consecutive months of declines.

The 'core-core' inflation rate, which excludes both fresh food and energy prices, eased to 1.7% from 1.8%, its lowest level since August 2022.