Food Price Increase behind BOJ Inflation Outlook Hike: Ueda
Tokyo, July 31 (Jiji Press)--The Bank of Japan has raised its inflation outlook for fiscal 2025 to reflect increases in the prices of foods including rice, BOJ Governor Kazuo Ueda said Thursday.
Rises in food prices may help prolong inflation, Ueda also said at a press conference after the BOJ's two-day policy meeting from Wednesday.
In its latest quarterly Outlook for Economic Activity and Prices report, released after the meeting, the BOJ raised its projection for growth in the core consumer price index for fiscal 2025 to 2.7 pct from the 2.2 pct shown in the previous report.
Ueda added that the decline in uncertainty regarding U.S. tariffs following a trade agreement between the United States and Japan has slightly improved the certainty that the bank's inflation outlook will be met.
(2025/07/31-16:39)
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