Japan's consumer prices rose at the fastest pace in a decade in June as higher food and gasoline costs squeezed household budgets, slowing economic growth.
Core prices, which exclude fruit, fish and vegetables, climbed 1.9 percent from a year earlier after increasing 1.5 percent in May, the Internal Affairs and Communications Ministry said Friday.
Faster inflation probably won't prompt the Bank of Japan to raise interest rates because the Policy Board is more concerned that growth is slowing. Central bank member Atsushi Mizuno said Thursday that the benchmark rate should stay at 0.5 percent for now because rising commodity costs are threatening the expansion.