Japan inflation accelerates to 3.3 percent in June

TOKYO, Japan - Japan's consumer prices rose 3.3 per cent year-on-year in June, with the pace of inflation accelerating from the 3.2 per cent recorded in May, government data showed Friday.

The latest data - which matched market expectations - comes ahead of the Bank of Japan's monetary policy meeting next week.

Market watchers expect the central bank will keep its super-loose monetary easing stance.

Stripping out fresh food and energy, Japan's prices rose 4.2 per cent, data published by the internal affairs ministry showed.

Inflation in Japan has been less extreme than price hikes seen in other countries such as the United States, which have been fuelled by the war in Ukraine and supply-chain disruptions.

The US Federal Reserve and many other central banks have raised interest rates to tackle high inflation.

But the Bank of Japan has stuck to its long-standing, ultra-loose monetary policy in an attempt to boost economic growth, causing the yen to fall against the dollar.

Friday's core consumer price index figure matched the market's expectations of 3.3 per cent recorded in a Bloomberg survey. - AFP