Japan inflation picks up
日本通货膨胀数字高企

Japan is moving closer to its 2 percent inflation target for next year. A raft of economic way-points were out on Friday,including those closely tracked inflation numbers.

The country’s 3 percent sales tax increase last month spurred core consumer prices to jump 3.2-percent annually in April,its quickest growth pace since 1991. Core CPI takes out volatile food prices but energy prices are still included in the calculations.

Jobs data and industrial production were also released. Industrial output grew 4.1 percent year on year, missing forecasts.It’s at the slowest pace of growth in 8-months.

Meanwhile, on a month-on-month basis, industrial production dropped 2.5 percent, crumbling to its biggest fall since the Tsunami of 2011.

On the jobs front, the unemployment rate remained at 3.6 percent in April, unchanged from March. Some analysts say a tighter labor market will continue to push wages up for employees.

Bank of Japan watchers say given the pick-up in April’s inflation numbers, the central bank could delay potential easing plans in June.