In September, the core consumer price index, which excludes volatile fresh food prices, added 0.2% over the previous month. The reading mirrored the result tallied in the previous month. The increase was driven by higher prices for clothing and footwear as well as for fuel, light and water charges, which more than offset lower costs for culture and recreation. Owing to the monthly price increase, core consumer prices dropped only 0.1% over the same month last year, which was above the 0.3% drop seen in August. Moreover, the result came in a notch above market expectations that had core prices declining 0.2%. Meanwhile, overall consumer prices fell 0.3% from the same month last year, which was a notch above the 0.4% fall seen in August. 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 0.4% in October over the same month last year (September: -0.4% year-on-year). The decline overshot market expectations that had the index falling 0.5%.
Core consumer inflation continues to increase in September
October 26, 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 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.
September 30, 2016
In August, industrial production expanded 1.5% over the previous month in seasonally-adjusted terms, which contrasted July’s 0.4% decrease (previously reported: 0.0% month-on-month).
September 30, 2016
In August, the core consumer price index was flat compared to the previous month, which was above the 0.2% decline in July.