The Inflation Japan Wanted Is Finally Here, but Not for the Right Reasons

TOKYO—Nearly a decade after its central bank targeted 2% inflation, Japan on Friday finally reached its goal. But instead of celebration, the occasion prompted concern about the effects of high energy and raw-material costs on a struggling economy.

Overall consumer prices in April were up 2.5% from a year earlier, government data showed. It was the first time since September 2008 that inflation topped 2%, excluding the impact of sales-tax increases. It was also the fastest rise since 1991.

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