Core inflation in Japan’s capital rises

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TOKYO — Core inflation in Japan’s capital accelerated for a fourth straight month in August, data showed on Friday, tracking comfortably above the central bank’s 2-percent target and backing market expectations of more interest rate hikes ahead.

The Tokyo core consumer price index, which excludes volatile fresh food costs, rose 2.4 percent in August from a year earlier, faster than a median market forecast of 2.2 percent and the 2.2-percent gain in July.

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