Japan's key inflation indicator has surpassed the central bank's target level for the first time this year, lending support to widespread expectations that the Bank of Japan will raise interest rates in December.
The Ministry of Internal Affairs and Communications reported on Friday that the consumer price index (CPI) excluding fresh food rose 2.1% year-on-year in September, matching the median forecast of economists.
The CPI excluding fresh food and energy climbed 2.4% year-on-year. The Bank of Japan closely monitors this core inflation measure.
The overall CPI increased 2.1% year-on-year.
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