Japan's Inflation Rises for Third Straight Month

Japan's inflation rates have risen in July, according to data from Statistics Bureau. The country's consumer price index grew by 1.8% year-on-year, meeting expectations and increasing from 1.6% seen in the prior month.

The core reading that excludes fresh food and energy prices rose to 1.9% year-on-year, up from 1.7% in June.

This marks a third consecutive month of rising Japanese inflation, as businesses pass on higher costs to consumers.

The Bank of Japan has forecast a sharp uptick in inflation over the coming months, especially with the ongoing US-Iran conflict showing no signs of easing.