Japan’s consumer prices post biggest jump in over seven years

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Japan’s core consumer inflation in April rose above the central bank’s 2% target, hitting a more than seven-year high as increases in energy and commodity costs are causing broader price hikes that are pressuring households.

The rise in consumer prices is making it harder for the Bank of Japan to convince markets it will keep monetary policy ultraloose and as the gains fuel public concerns about pushing up living costs.

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