Japan’s core CPI rises for the 7th straight month in July

The BOJ is seen gradually reaching its 2% price target, as today’s Japanese core CPI release showed that the consumer prices ex-volatile items rose for the seventh straight session in the month of July.

Tokyo core consumer prices rose 0.5% in July, while, nationwide core consumer price index (CPI), which includes oil products but excludes volatile fresh food prices, came in line with estimates and followed a 0.4% gain in June.