Japan July inflation data. Underlying inflation pressures have a rocket under them.

The 'excluding food and energy' measure is known as 'core-core'. Its the closest to the US measure of core inflation. It hit 4.3% in July.

Japan inflation cpi July 2023

If you've been following along you'll know that the Bank of Japan have insisted, over and over again, that they expect current high inflation levels (for Japan)_ to be transitory. The BOJ expects CPI rates to begin to drop from around September/ October. And thus, says the Bank, super-easy monetary policy must stay in place.