Japan's consumer inflation eases in March

By Tuba Ongun

Japan’s overall annual consumer inflation slowed to 2.7% in March, matching the market forecast, according to official data released Friday.

Headline inflation was slightly down from a three-month high of 2.8% in February, figures from the Internal Affairs Ministry showed.

Core inflation, which strips out fresh food, cooled more than expected to 2.6% from the previous month's 2.8%.

A deeper, "core-core" measure of inflation that excludes fresh food and energy prices dropped to 2.9%. The closely watched reading by the Bank of Japan fell below 3% for the first time since November 2022.

On a monthly basis, the consumer prices index increased 0.2% in March, the fastest pace since October 2023.