Japan's headline inflation rate slipped to 2.3% in October, its lowest level since January and down from the 2.5% seen in September. The core inflation rate fell to 2.3% from 2.4%, slightly higher compared to the 2.

Japan's core inflation in October held above the central bank's 2% target and a key index stripping away the effect of fuel accelerated, data showed on Friday, keeping pressure on the central bank to raise its still-low interest rates.

Japan’s key inflation gauge held above the central bank’s target even as price gains moderated a tad, in data largely supporting the central bank’s view that underlying inflation remains solid.

In hopes of tackling continuing issues of inflation, the Japanese government okayed a wide-ranging economic package worth $250 billion to address racing energy costs and benefit a lot of low-income families.

Japan approved a 39 trillion yen ($250 billion) economic stimulus package Friday centered around initiatives it said were aimed at boosting individual incomes. The broad plan passed by the Cabinet is the centerpiece of Prime Minister Shigeru Ishiba’s recently installed administration.

The stimulus lays out fiscal spending of 21.9 trillion yen ($140 billion) on measures to support sustained wage gains and cash handouts for low-income households, subsidies for gas and electricity bills,