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Japan Consumer Prices (Apr. 2023)

Underlying inflation pushed past 4.0% for the first time in 40 years partly due to a spike in food inflation. Meanwhile, services inflation set a fresh 30-year high, largely reflecting higher goods prices. Between a likely yen rally curbing input cost pressures and slowing wage growth weighing on demand in H2, inflation fall below 3.0% by year-end.   

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