Japan’s core inflation rose to a more than two-year high in May, exceeding the central bank’s 2% target for over three years and increasing pressure on the Bank of Japan (BOJ) to resume rate hikes.
The core consumer price index (CPI), excluding volatile fresh food, rose 3.7% year-on-year in May, surpassing market forecasts and accelerating from April’s 3.5%. It marked the fastest pace since January 2023’s 4.2%.
A separate index, stripping out fresh food and fuel, climbed 3.3%, the highest since January 2024.
The rise was driven largely by persistent food inflation. Staple rice prices doubled compared to last year, while rice balls rose nearly 20% and chocolate bars by 27%.
Service-sector inflation also rose to 1.4% from 1.3%, reflecting firms passing on higher labour costs.
The data highlights the BOJ’s challenge in balancing inflation pressures with risks from U.S. trade uncertainty under President Trump. A Reuters poll showed a slight majority of economists expect the BOJ’s next rate hike in early 2026.
BOJ Governor Kazuo Ueda said underlying inflation remains below target but could re-accelerate. “If our forecasts materialise, we expect to keep raising interest rates,” he said.
China’s commerce chief is urging the U.S. to act responsibly and avoid reigniting a tariff war, saying forced decoupling is unrealistic and trade ti...
Russian President Vladimir Putin has accused European countries of taking grain originally meant for impoverished nations under the 2022 Black Sea Gra...
The UK and Germany have signed a landmark treaty that includes plans for a direct rail connection between London and Berlin, aimed at boosting travel ...
A tenth resident has died following the deadly fire that tore through the Gabriel House assisted-living facility in Fall River, Massachusetts, officia...
At least 63 people have died and 290 were injured in Pakistan’s Punjab province within 24 hours of heavy monsoon rains, authorities said Thursday....
Russian President Vladimir Putin has accused European countries of taking grain originally meant for impoverished nations under the 2022 Black Sea Grain Initiative.
The UK and Germany have signed a landmark treaty that includes plans for a direct rail connection between London and Berlin, aimed at boosting travel and trade between the two countries.
A tenth resident has died following the deadly fire that tore through the Gabriel House assisted-living facility in Fall River, Massachusetts, officials confirmed Thursday.
At least 63 people have died and 290 were injured in Pakistan’s Punjab province within 24 hours of heavy monsoon rains, authorities said Thursday.
The world’s biggest dance music festival faces an unexpected setback as a fire destroys its main stage, prompting a last-minute response from organisers determined to keep the party alive in Boom, Belgium.
China and the Association of Southeast Asian Nations will send an upgraded ‘version 3.0’ free-trade agreement to their heads of government for approval in October, Chinese Foreign Minister Wang Yi said on Saturday after regional talks in Kuala Lumpur.
Germany's export slump since 2021 is largely driven by deep-rooted competitiveness issues, the Bundesbank warned in its latest report, calling for urgent structural reforms.
Israeli researchers have unveiled an artificial intelligence tool that can determine a person’s true biological age from tiny DNA samples with remarkable precision.
Hollywood star Sydney Sweeney is reportedly the top contender to become the next Bond girl, as director Denis Villeneuve and Amazon look to modernise the James Bond franchise.
Iran has developed an investment plan aimed at attracting funding to expand its caviar production to more than 140 metric tons in the near future, - stated Nasser Karami-Rad, a senior official of the Iran Fisheries Organization.
Kazakhstan is weighing cryptocurrency-related investments as part of its strategy to diversify national reserves and modernise financial management, according to the chairman of the National Bank.
Electric car sales in Germany surged to a new record in the first half of 2025, making up 17.7% of all new vehicle registrations, according to the German road traffic agency KBA. Despite a 4.7% drop in overall car sales, demand for EVs grew by 35% year-on-year.
U.S. consumer prices rose at their fastest pace in five months in June, signaling the early impact of tariffs on inflation. However, subdued demand and falling service prices may keep the Federal Reserve cautious about rate changes.
A feasibility study for building a production chain at the Dashkesan iron ore deposits complex in Azerbaijan will be conducted after Dashkesan Iron Ore LLC, a subsidiary of CJSC AzerGold, signed an agreement with China's Sinosteel Equipment & Engineering Co Ltd.
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