Array
Tokyo, Japan — Japanese inflation slowed slightly in October with prices up 2.3 percent on-year, official data showed Friday, as the government readies a huge economic stimulus package.
The core Consumer Price Index (CPI), which excludes volatile fresh food prices, was down from 2.4 percent in September and 2.8 percent in August.
But it stayed above the Bank of Japan’s key inflation target of two percent, set over a decade ago as part of efforts to boost the stagnant economy.
Japan’s minority government is expected to unveil a 22 trillion yen ($140 billion) stimulus package on Friday, aiming to put more money in consumers’ pockets after the ruling party’s worst election result in 15 years.
