Japan inflation hits 7-year high

Japan's core consumer prices jumped 2.1 per cent again in May, the second consecutive monthly jump of a level not seen in seven years, official data showed Friday.

The core consumer price index, which excludes fresh food, jumped 2.1 per cent year-on-year in May, according to figures released by the internal affairs ministry.

The rise follows a 2.1 per cent jump in April, the first time since March 2015 that the figure breached the 2.0 per cent set by the Bank of Japan (BoJ) as its long-term inflation target.

The reading, in line with market expectations, comes after the Japanese central bank last week stuck to its monetary easing policy even as other central banks raise interest rates to tame inflation.