- Japan's consumer price index excluding fresh food rose 1.7% in August from a year earlier, easing from a 1.8% pace in July — the first slowdown in four months.
- The deceleration largely reflects the effect of government subsidies; economists had expected the inflation rate to remain unchanged at 1.8%.
- The data was released hours before the Bank of Japan is expected to announce an interest rate hike.
Quotes
“Japan's inflation slowed for the first time in four months, largely reflecting the effect of government subsidies”
“The consumer price index excluding fresh food rose 1.7% in August from a year earlier, easing from a 1.8% pace in July”