Briefly

JAPAN

Inflation at highest level since 2014

Inflation in Japan hit 2.8 percent in August, the highest level since 2014, government data showed on Tuesday as soaring energy prices bite. The last time such figures were seen, prices had been artificially bolstered by an increase in value-added tax. Excluding years when tax hikes impacted the rate, August's inflation was at the fastest pace in nearly 31 years. The figure for August was slightly above the 2.7 percent consensus forecast by experts, and comes on the heels of a 2.4 percent rise in July. Since last spring, Japanese carriers have been rolling out cheaper plans, leading to significant year-on-year drops in mobile phone rates and playing a major role in restraining the country's CPI rise.

ARGENTINA

IMF backs 2nd review of debt relief deal

Technical staff of the International Monetary Fund approved the second review of the organization's debt relief agreement with Argentina on Monday, paving the way for the South American country to access some $3.9 billion in the coming weeks, the IMF said. The approval corresponds to the government's fulfillment of quantitative program targets in the second quarter, the IMF said, adding that "most ... were met". The agreement is subject to the approval of the IMF Executive Board, which is expected to meet in the coming weeks.

Agencies - Xinhua