MADRID, 19 Abr. (EUROPA PRESS) -

The reference inflation rate in Japan, which excludes the impact of the price of fresh food, stood at 2.6% year-on-year in March, two tenths below the February reading, according to data published this Friday by the Ministry of the Interior and Communications of the Japanese country.

In the case of the general inflation rate, the CPI for March stood at 2.7%, one tenth below the reading of the previous month, while the underlying inflation rate, which in addition to fresh food also excludes energy, eased to 2.9% from 3.2%, its lowest level since November 2022.

The Bank of Japan plans to hold a new monetary policy meeting on April 26, when the institution is expected to keep interest rates unchanged, in addition to also publishing its new growth and inflation projections.

"If inflation continues to move in line with the Bank of Japan's projections, further rate hikes are possible this year," said Gabriel Ng, an economist at Capital Economics, for whom the Bank of Japan is likely to review the raises its inflation forecasts for the next year.