ANKARA
Japan’s overall annual consumer inflation rose to 3-month high of 2.8% in May due to rising electricity prices, according to official data released Friday.
Headline inflation was up from 2.5% in April, figures from the Internal Affairs Ministry showed.
The cost of electricity soared 14.7% year-on-year in May as the government phased out utility subsidies.
Core inflation, which excludes fresh food, came in lower than expected at 2.5% from the prior month’s 2.2%. The figure stayed above the Bank of Japan’s 2% target for a 26th straight month.
A deeper, “core-core” measure of inflation that strips out fresh food and energy prices eased for the ninth consecutive month, reaching 2.1%, from 2.5% in the previous month.
On a monthly basis, the consumer prices index gained 0.5% in May, the fastest clip since last October.
