At Ueda's first policy-setting meeting next week, the BOJ is widely expected to make no major changes to its bond yield control policy, say sources.
An index stripping out the effect of both fresh food and energy, which is closely watched by the BOJ as a better gage of underlying price trends, rose 3.8% in March from February's 3.5% and accelerated for the 10th straight month.
While government subsidies kept utility bills down, prices rose for various daily necessities and food such as fried chicken, which rose 12% and laundry detergent, up 18%, the data showed. Persistent rises in global commodity prices have prodded many Japanese companies, long reluctant to hike prices, to finally pass on their higher costs to consumers, pushing up consumer inflation to well above the BOJ's 2% target.
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