Data released on Friday showed the national core consumer price index, which excludes fresh food but includes energy products, rose 3.4% in April on an annual basis, in line with analysts’ expectations but higher than March’s 3.1%.
The index, which excludes both fresh food and fuel and is closely watched by the Bank of Japan as the most important indicator of demand-driven domestic price trends, rose 4, 1% in April on an annual basis, the fastest pace since September 1981. .
Data showed that services inflation accelerated to 1.7% in April from 1.5% in March, indicating that rising labor costs may start to fuel broader inflation in services. consumers.
Food prices also jumped 9.0% in April from a year earlier, after 8.2% in March.
The reading comes days after data showed the world’s third-largest economy grew faster than expected in the first quarter due to a rebound in consumers after coronavirus restrictions were lifted.
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