Japan: Core consumer prices decrease in April for the first time in over four years
May 22, 2020
The core consumer price index, which excludes the price of fresh food, decreased 0.5% month-on-month in seasonally-adjusted terms in April, down from the 0.1% decrease in March. This latest decline was largely due to lower prices for transportation and energy.
The core consumer price index decreased 0.2% in April compared to the same month last year, contrasting the 0.4% increase in March and marking the first negative reading in over four years. The change was also substantially below the Bank of Japan’s target of a 2.0% increase. Overall inflation slowed to 0.1% in April (March: +0.4%).
Author: Edward Gardner, Economist