Japan's core inflation rate in March accelerated to 3.2% from 3% in the previous month. The core-core CPI (a broader indicator of price trends), which excludes fresh food and fuel costs, rose to 2.9% year-on-year in March, up from 2.6% in February. Rice prices surged 92.1% year-on-year in March, marking the fastest increase since comparable data became available in 1971. Japanese economists warn that if the current trend continues, real wages will remain negative for some time. The latest data aligns with the central bank's expectations, but due to the impact of U.S. tariffs, the Bank of Japan may not make any monetary policy changes in the near term (May 1 interest rate decision).