In October, the core consumer price index, which excludes volatile fresh food prices, was unchanged over the previous month. The reading was down from the 0.2% increase recorded in September. Higher prices for clothing and footwear, furniture and household utensils as well as for transport and communication were offset by lower costs for culture and recreation as well as for fuel, light and water charges. As a result, core consumer prices were also unchanged compared to the same month last year, which was up from the 0.1% drop seen in September but in line with market expectations. Meanwhile, overall consumer prices fell 0.4% from the same month last year, which was a notch below the 0.3% fall seen in September. 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 0.5% in November over the same month last year (October: -0.4% year-on-year). The decline exceeded market expectations that had the index falling 0.4%.
Core inflation steady in October
November 30, 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.