Japan's inflation has cooled for the second month in a row while remaining above the Bank of Japan's price target, as the recent depreciation of the yen heightens concerns that cost-driven inflationary pressure may continue. Japan's Ministry of Home Affairs said on Friday that consumer prices excluding fresh food rose 2.2% in April compared to the same period last year, in line with analysts' expectations. The index remained at or above the Bank of Japan's target level of 2% for the 25th consecutive month. The rise in processed food prices has slowed to 3.5%, partly due to the fundamental impact of these price spikes a year ago, which shows that companies are increasingly willing to pass on rising costs to consumers. (Global Market Report)