Japan's Inflation Slows to 2.3% in December

Lower energy costs contribute to slowdown, but rate remains above Bank of Japan's target.

Japan's inflation rate slowed to 2.3% in December from 2.5% in November, according to government data.
Lower electricity and gas bills contributed to the slowdown in inflation.
Despite the slowdown, Japan's inflation rate remains above the Bank of Japan's 2% target.
The Bank of Japan is expected to maintain its ultra-loose monetary policy in its upcoming meeting.
Services prices rose 2.3% in December, marking the fastest pace in three decades.