India, Feb. 21 -- Japan's core inflation accelerated to a 19-month high in January, bolstering the chances of another interest rate hike by the Bank of Japan.
Core inflation that excludes fresh food rose more-than-expected to 3.2 percent from 3.0 percent in December, the Ministry of Internal Affairs and Communications said Friday. This was the fastest since June 2023 and was slightly above forecast of 3.1 percent.
Driven by higher food prices, headline CPI inflation increased to 4.0 percent from 3.6 percent in the previous month. The rate hit the highest in two years.
There were steep increases in prices of rice, vegetables and other food items. Rice prices skyrocketed 70.9 percent in January.
The consumer price index excluding prices o...