In October, Japan’s core consumer inflation increased to 2.9%, which was less than anticipated

For the 19th month running, consumer price growth has exceeded the Bank of Japan’s 2% target, according to official data.

October core consumer inflation in Japan increased more slowly than anticipated, according to official statistics that was made public on Friday.

Core consumer prices, excluding fresh food, rose 2.9% year over year in October after hitting a 13-month low of 2.8% in September.

The core consumer inflation rate for the month was predicted by the market to be 3%.

For the nineteenth month in a row, October’s result remained higher than the Bank of Japan’s 2% target.

The headline inflation rate of the third-largest economy in the world increased from 3% in September to 3.3% in October, marking a three-month high.

With the exception of energy and fresh food, consumer prices rose by 4% over the previous year, which is roughly the fastest rate since 1981.