Bank of Japan's new trend gauge shows inflation exceeding target

From channelnewsasia.com

The Bank of Japan said on Thursday the core consumer price index rose 2.2 per cent excluding special factors in February, releasing the new gauge for the first time in what analysts say is an effort to show underlying inflation on track for further rate hikes. The new index, which strips out "institutional factors" such as education and energy-related subsidies, showed a sharper year-on-year rise than the 1.6 per cent in the benchmark core CPI figure the internal affairs ministry announced this week. The move followed BOJ Governor Kazuo Ueda's pledge last week to disclose new data to enhance communication on ... (full story)