Japan’s Ishiba Vows to Stay On
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A slight easing in consumer inflation is welcome news for the Japanese central bank, but stubbornly high food prices will be of concern for policymakers.
Japan's core inflation cooled to 3.3% in June, coming down from a 29-month high of 3.7% as food inflation showed signs of easing. The figure — which strips out costs for fresh food — was in line with the 3.3% expected by economists polled by Reuters. Headline inflation in the country dropped to 3.3%, coming down from 3.5% in May.
TOKYO -- The Japanese public voted on Sunday to determine the makeup of the nation's upper house, in a crucial vote for Prime Minister Shigeru Ishiba, whose coalition is fighting to hold on to its majority -- one that it lost in the lower chamber last autumn.
Japans core inflation eased in June due to temporary utility subsidies, yet remained above the Bank of Japans (BOJ) 2% targetfueling ongoing expectations of further interest rate hikes. According to official data