Data showing inflation in Japan hit a new five-year high in October is news to cheer for sure. But it may take more monetary stimulus for inflation to hit the levels the Bank of Japan wants to see, analysts say.
Japan has stepped up efforts this year to win a battle against deflation that has dogged its economy, the world's third biggest, for two decades.
(Read more: Japan's economic growth slows in Q3)
Japan's core consumer price index (CPI), which includes oil products but excludes prices of fresh food, rose 0.9 percent in October from a year earlier, compared with a 0.7 percent rise in September, and marking its biggest year-on-year growth since November 2008, data on Friday showed.
The CPI, when oil and food prices are stripped out, rose 0.3 percent from a year earlier. That was the biggest year-on-year gain since August 1998, a government official told Reuters.