An inflation gauge tracked by the Bank of Japan just jumped to a seven-month high

The “core-core” inflation rate in Japan, excluding fresh food and energy prices, rose to 2.4%, prompting speculation of a rate hike by the Bank of Japan in early 2022. The core inflation rate reached 2.7%, exceeding expectations, while headline inflation hit 2.9%, the highest since August. Despite holding rates steady at 0.25%, the BOJ indicated a potential increase in the future to address rising inflation risks.

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