Japan government to forecast fiscal year 2019 consumer inflation of 1.5 percent: document

TOKYO (Reuters) – Japan’s government is set to forecast overall consumer price growth of 1.5 percent in the fiscal year that starts in April 2019, a draft document obtained by Reuters showed on Friday.

The Cabinet Office’s projections, due to be submitted to the government’s top economic council on Friday, compare with the central bank’s forecast for core consumer inflation of 1.8 percent in fiscal 2019.

The Bank of Japan is likely to cut its price growth forecasts at a policy meeting later this month as long-term inflation expectations stall, sources said, highlighting the bank’s difficulty in hitting its elusive price target.

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