TOKYO–Japan’s consumer prices rose over 3% in July, remaining well above the Bank of Japan’s 2% target.
Overall consumer prices rose 3.3% from a year earlier in July, matching the 3.3% growth marked in June, government data showed Friday.
Consumer inflation excluding volatile fresh food and energy increased 4.3%, slightly faster than June’s 4.2% rise.
In late July, the Bank of Japan raised its cap for the 10-year Japanese government bond yield to 1% from 0.5%. Inflation above the BOJ’s 2% target is likely to fuel market speculation over further policy action.
Write to Megumi Fujikawa at megumi.fujikawa@wsj.com