In April, the core consumer price index, which excludes volatile fresh food prices, grew 0.1% in seasonally adjusted terms over the previous month, mirroring March's result. According to the statistics bureau, the reading reflected higher costs for clothing and footwear as well as for fuel. Annual core inflation moderated slightly to 0.2% from 0.3% in March, but remained in positive territory for the third consecutive month. Moreover, the print overshot market expectations that had annual core inflation at 0.1%. Meanwhile, annual overall inflation inched down from 0.5% in March to 0.4% in April. The core consumer price index for Tokyo, which is available one month before the national figures and thus is a leading indicator for countrywide inflation, fell 0.8% in May over the same month last year, which was below the 0.5% drop observed in April. According to the median of the Central Bank Policy Board members forecast, core inflation will average 0.3% in the 2012 fiscal year ending in March 2013. In FY 2013/14, the Bank of Japan sees core inflation at 0.7%.
Core consumer prices rise for third consecutive month
May 25, 2012
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Japan Inflation Chart
Note: Year-on-year and month-on-month var. of consumer price index in %.
Source: Statistics Bureau (SB) and FocusEconomics calculations.
Japan Economic News
October 24, 2016
The Nikkei Flash Manufacturing Purchasing Managers’ Index (PMI) rose from September’s revised 50.4 (previously reported: 50.3) to 51.7 in October.
October 24, 2016
In September, nominal exports valued in yen declined 6.9% from the same month last year, which followed August’s 9.6% decline.
October 12, 2016
Core machinery orders (a leading indicator of capital spending over a three- to six-month period) declined for the first time in three months in August.
October 4, 2016
Consumer sentiment rose from August’s 42.0 to 43.0 in September.
October 3, 2016
According to the Bank of Japan’s quarterly TANKAN business survey, sentiment among large manufacturers was stable at 6 in Q3.