• Kyodo

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Nationwide inflation remains “relatively weak” but prices will gradually be pushed up toward the Bank of Japan’s 2 percent target by rising labor costs, Gov. Haruhiko Kuroda said Monday.

“Firms’ price-setting stance going forward is the key to the bank’s outlook for prices,” Kuroda told a meeting with business leaders in Nagoya. “Firms that have faced a rise in labor costs due to tight labor market conditions are likely to consider passing on a rise in wage costs to prices of their products and services.”

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