Japan's Core Inflation Holds Steady Below BOJ Target

Japan's core consumer prices rose by 1.6 percent in June from a year earlier, remaining below the Bank of Japan's target of 2 percent for a fifth consecutive month.

The increase in the core consumer price index (CPI), which excludes volatile fresh food prices, matched market expectations and followed a 1.4 percent rise in May.

A separate inflation measure that strips away both volatile fresh food and fuel prices rose by 1.7 percent in June from a year earlier after a 1.8 percent increase in May.