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According to the latest Reuters poll, Japanese consumer prices, stripping of volatile items such as food, energy etc., are seen edging higher in the month of July, in the wake of rising fuel prices.

Key Findings:

The nationwide core consumer price index (CPI), which excludes fresh food prices but includes fuel costs, likely rose 0.9 percent in July from a year earlier, a Reuters poll showed, edging up from a 0.8 percent gain in June.

Takeshi Minami, Chief Economist at Norinchukin Research Institute, noted: “We expect inflation to accelerate for the second straight month as energy prices are rising again and import price falls are moderating due to the yen’s recent weakness.”

The government will release the CPI data on Aug. 24 at 2330 GMT.