Bank of Japan's price trend indicator jumps above 3%, providing grounds for continued rate hikes.

Zhitong Finance APP has learned that the Bank of Japan's gauge of underlying inflation rose to the highest level in three years, far exceeding the bank's 2% target, providing justification for the authorities to continue raising interest rates. A report released by the Bank of Japan on Tuesday showed that consumer prices excluding fresh food and special factors rose 3.2% year-on-year in September, accelerating from 2.6% in the previous month.