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Bank of Japan Faces Inflation Pressure
Core inflation in Japan rose above 2% for the first time in nine months, increasing the likelihood of the Bank of Japan raising interest rates in the near future. The increase is attributed to rising fuel costs due to the Middle East conflict, a weak yen, and growing demand for artificial intelligence, despite government support interventions. The core inflation rate recorded 2.1% in September on an annual basis, with the demand index accelerating from 1.7% in August. The bank is closely monitoring the index that excludes fuel and fresh food, as it provides the most accurate measure of inflationary pressure.
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