Core inflation rises in Japan – Bloomberg HT

Japan’s nationwide core inflation rose 3.4 percent year-on-year in April, in line with economists’ forecasts.

The data was higher than the previous month’s 3.1 percent inflation rate and above the central bank’s 2 percent target.

General inflation also rose from 3.2 percent in March to 3.5 percent in April.

The Japanese yen strengthened 0.2 percent against the dollar to 138.42 after the US dollar index passed 103.5 overnight and set its highest point in nearly two months.