Japan's key inflation index has risen above the central bank's target level for the first time since this year. This supports widespread expectations that the Bank of Japan will raise interest rates in December. Japan's Ministry of Internal Affairs and Communications announced on Friday that the consumer price index excluding fresh food rose 2.1% year on year in September, in line with the median forecast of economists. The CPI excluding fresh food and energy rose 2.4% year over year. The Bank of Japan is closely watching this core inflation indicator. The overall CPI rose 2.1% year over year.

Japan's key inflation index has risen above the central bank's target level for the first time since this year. This supports widespread expectations that the Bank of Japan will raise interest rates in December. Japan's Ministry of Internal Affairs and Communications announced on Friday that the consumer price index excluding fresh food rose 2.1% year on year in September, in line with the median forecast of economists. The CPI excluding fresh food and energy rose 2.4% year over year. The Bank of Japan is closely watching this core inflation indicator. The overall CPI rose 2.1% year over year.