Japan’s inflation re-accelerated in April after cooling earlier in the year, likely supporting views that the central bank may have to revise its price outlook, bringing the Bank of Japan a step closer to policy normalization.
Consumer prices excluding fresh food rose 3.4% from a year ago, quickening from the previous month driven by gains in processed food and hotel prices, the internal affairs ministry reported Friday. The result came in line with analyst forecasts.
The national data was consistent with the results of the leading Tokyo figures, which showed renewed upward momentum after two months of deceleration.