Japan’s inflation is largely steady in May, with government subsidies helping restrain energy-related price increases. The Japan Times reports that core consumer prices excluding fresh food rise 1.4% year on year, the same pace as the prior month and matching economist expectations, marking the lowest level since 2022. CNBC adds that headline inflation, which includes energy and other items, edges up to 1.5% from 1.4%. CNBC also notes that “core-core” inflation—excluding fresh food and energy—eases to 1.8% from 1.9%. Taken together, the figures indicate that while overall prices continue to show modest movement, underlying inflation measures are not accelerating. The data suggest that energy costs do not drive a strong upward trend in consumer prices at present, consistent with the role of subsidies in limiting energy-price pressure. The release comes as economists monitor whether Japan’s inflation will broaden beyond energy and whether it supports future monetary policy decisions.