The Bank of Japan is giving more prominence to an inflation gauge that shows it is much closer to its target than its current key measure.
The central bank for the first time presented a chart of consumer prices excluding fresh food and energy in its monthly report for July. It showed that inflation was at 0.7 percent in May, well above 0.1 percent by its current gauge, which strips out fresh food only.
Highlighting the alternative measure, previously presented in quarterly outlooks, comes as debate is intensifying over how to most accurately measure prices — and its goal grows distant with cheaper oil.
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