🇯🇵 Japan's core inflation rate rose to 3.7% in May, the highest level since January 2023, exceeding forecasts and putting pressure on the BOJ to consider raising interest rates.

Rice prices surged by 101.7% over the past year, forcing the government to release emergency stockpiles. Overall inflation eased slightly to 3.5%, but this marks the 38th consecutive month above the BOJ's 2% target.