Japan's inflation rate at 3.3 percent in July


(MENAFN) Japan's consumer prices increased 3.3 percent in July from a year earlier, the same rate as the previous month, the government said, QNA reported.

Discounting the effect of a sales tax increase in April, the inflation rate would be 1.3 percent, the Bank of Japan (BoJ) said, still below its 2-percent target.

It was the 14th straight month of an annual inflation, in a country which had previously seen over a decade of deflation.

National sales tax increased from 5 percent to 8 percent in April, as Japan's central bank is aiming to lift the inflation rate to 2 percent in or around fiscal 2015.


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