Japan: Inflation moderates in May
Inflation came in at 3.2% in May, which was down from April’s 3.5%. The slowdown was largely due to a reduction in a levy for renewable energy development.
Annual average inflation was unchanged at April’s 3.3% in May. Meanwhile, core inflation edged down to 3.2% in May, from April’s 3.4%.
Lastly, consumer prices rose 0.07% from the previous month in May, which was below April’s 0.64% rise. May’s result marked the weakest reading since February.