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Japan inflation quickens on back of sales tax hike

Japan’s inflation came in as expected in June, data showed on Friday, boosted by the consumption tax hike that took effect in April.

Nationwide core consumer price index (CPI) rose 3.3 percent in June year on year, in line with a Reuters estimate and against the 3.4 percent uptick in May.

The core Tokyo CPI for July, a leading indicator, climbed an annual 2.8 percent, slightly better than a 2.7 percent rise forecast by Reuters and following the 2.8 percent gain in June.
 

(Source: CNBC)