Japan's Core Inflation Eases Below 3% But Remains Above BOJ Target

Japan's core inflation slowed to 2.8% in September, below 3% for the first time in over a year but still above the BOJ's 2% target.

Core-core inflation, which excludes food and energy costs, rose 4.2% in September, slowing from 4.3% in August.

Data will be scrutinized at the BOJ's Oct 31 policy meeting, but BOJ expected to keep ultra-easy monetary policy for now.

Utility bills fell, reflecting lagged oil price declines, helping ease inflation below 3%.

Food and daily necessity prices rose at slower pace than August, indicating easing cost-push pressures.