Challenging the nation's central bankers, Japan's widely quoted core consumer price index (CPI), which excludes fresh food, rose 3.2% from a year ago in March, accelerating from a 3% on-year rise in February, the Statistics Bureau reported Friday.

The Bank of Japan has a 2% annual inflation target on the CPI-core, but inflation has consistently, if moderately, posted above the goal since early 2023.

Japan's consumers in March were hit by soaring prices for the staple rice, up 92.1% on year, following weak crop harvests.

Japan's headline CPI, which includes all items, rose 3.6% on year in March, cooling marginally from the 3.7% on-year gain in February.

The nation's CPI "core-core," which excludes fresh food and certain energy charges, rose 2.9% in March on year after a 2.6% on-year rise in February, reported the Statistics Bureau.

There were some positive notes in the inflation report; the price of services rose a mild 1.4% in March on year, while residential rents gained only 0.4% on year.

To battle inflation, the Bank of Japan has lifted its key interest rate, in stages, from a negative 0.1% in January 2024 to 0.50% in January 2025, and also slowed down its program of buying Japanese government bonds.

In its mid-March meeting, the central bankers paused on rate hikes, citing economic uncertainty, in part associated with the Trump Administration's tariffs.

The Bank of Japan has reiterated its support of keeping demand strong enough that real wages increase, leading to stronger consumer spending and more domestic economic growth.

At its March policy session, the Bank of Japan affirmed its January outlook, that "underlying CPI inflation is likely to be at a level that is generally consistent with the price stability target" by the second half of fiscal 2025, which started on April 1.

The next Bank of Japan monetary policy session and decision is slated for the end of April.