Japan core inflation rate in June creeps up from 4-year low as higher oil prices bite

Japan 's core inflation came in at 1.6% in June, government data released Friday showed, as the impact of higher oil prices spills over into the wider economy.

This is the first rise in core inflation since March, and was in line with the 1.6% growth expected by economists polled by Reuters. Core inflation in Japan strips out prices of fresh food. Headline inflation increased to 1.7% from May's 1.5%, while the so-called "core-core" inflation rate, which strips out prices of fresh food and energy, dipped to 1.7%, the lowest since August 2022. Cushioned by government subsidies, energy prices dipped just 0.1% year-on-year in June, compared with a 2.5% fall in May. Charges for fuel, light and water remained flat, ending 6 straight months of declines.