BOJ's new trend gauge shows inflation exceeding target
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The Japanese national flag waves at the Bank of Japan building in Tokyo, Japan March 18, 2024. REUTERS/Kim Kyung-Hoon
TOKYO, May 26 (Reuters) - Japan's core consumer inflation rate excluding one-off factors, as measured by the central bank's new gauge, hit 2.8% in April, exceeding its 2% target and accelerating from 2.5% in March, the Bank of Japan said on Tuesday.
The new index, which strips out institutional factors such as education and energy-related subsidies, showed a much faster year-on-year rise than the 1.4% rate in the benchmark core consumer price index figure the government announced last week.
(Reporting by Leika Kihara and Takahiko Wada; Editing by Christian Schmollinger)
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