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Japan core inflation tops forecasts as rice prices almost double

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Japanese inflation spiked at a two-year high in April, data showed Friday, as rice prices almost doubled, turning focus on the central bank as it mulls more interest rate hikes amid Donald Trump's trade war. Underlying inflation has been above the BoJ's target rate of two percent for around three years and while the central bank began lifting interest rates last year it has paused them recently as it assesses the impact of Trump's tariffs.

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