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TOKYO — Japan’s overall consumer inflation rose 3% from a year earlier in August, exceeding the Bank of Japan’s 2% target for fifth straight months, government data showed Tuesday.
The figure compares with a 2.6% increase in July from a year ago. Consumer prices excluding fresh food and energy prices rose 1.6% from a year earlier in August.
The BOJ is widely expected to maintain ultra-low interest rates at a policy-setting meeting later this week as BOJ officials have said current inflation is triggered mainly by higher energy prices and is unlikely to be sustainable.
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