BoJ official: Central bank sees underlying inflation gradually heading toward 2%

An official at the Bank of Japan (BoJ) said on Wednesday that the “BoJ sees underlying inflation gradually heading toward 2%.”

Additional comments

Price rises post-pandemic have been driven mostly by cost-push factors, such as rising import costs from weak Yen.

Expect cost-push inflation pressure to gradually dissipate ahead.

Services prices rising moderately.