The jump was the largest since February 1982. It also confirmed CPI growth remained above the Bank of Japan's (BOJ) 2% inflation goal for a seventh straight month.
Japan s core consumer prices leaped 3.0 percent in September, marking the sharpest gain in over 31 years, as a faltering yen inflated a range of import costs from energy to food, government data shows, complicating the Bank of Japan s commitment to monetary easing.
Japan should target around 30 trillion yen ($201 billion) for a new economic package to be compiled later this month, a senior ruling party lawmaker said on Oct. 18 as the government aims to help ease the pain of accelerating inflation and support the economy.
Given that the Japanese economy is still mired with deflation, Japan should issue defense bonds as a balance between economic growth and national defense.
Japan will take "appropriate" steps if the yen s volatility increases excessively, says Finance Minister Shunichi Suzuki, as the currency weakens against the U.S. dollar to levels near where it was when Japanese authorities intervened last month.