cnbc_topnews

Japan core inflation rate in June creeps up from 4-year low as higher oil prices bite

📰 source: cnbc_topnews · 💼 business

japan's core inflation rose to 1.6% in june, the first increase since march, driven by higher oil prices. the figure matched economists' expectations. headline inflation climbed to 1.7% from 1.5% in may, while core-core inflation (excluding fresh food and energy) dipped to 1.7%, the lowest since august 2022.

government subsidies softened energy price declines to 0.1% year-on-year, compared to a 2.5% drop in may. but producer prices surged 7.1% in june, the highest since march 2023, as businesses bore the brunt of rising costs. the yen's weakness added to import costs, hitting a multi-decade low of 163.23. petroleum imports soared 59% in value year-on-year.

the bank of japan remains alert to upside inflation risks, with some members seeing potential for faster rate hikes if price pressures from the weak yen and fuel costs accelerate inflation beyond expectations.

why it matters: rising inflation and weak yen pressure boj to consider faster rate hikes, impacting bond yields and japanese equity valuations.

source: cnbc_topnews
sentiment: +0.10 · impact: 0.40

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Surprise fall in US jobs last month as slow summer continues

Homes are selling below asking in 38 of the 50 biggest U.S. cities—if you can afford one

China is gaining ground in AI. But the U.S. still has a major advantage

US strikes $1.2bn deal to pay German firm to halt offshore wind projects