Japan: Core inflation inches up in May
June 30, 2017
In May, the core consumer price index was flat from the previous month in seasonally-adjusted terms, matching the result in the previous three months. May’s reading mainly reflected that higher prices for fuel, light and water charges were offset by lower prices for food and furniture and household utensils.
Core inflation rose from April’s 0.3% to 0.4% in May. The print was in line with what market analysts had expected and represented the highest rate since April 2015. Overall inflation came in at 0.4% in May, matching April’s result.
Core prices for Tokyo—available one month in advance of the national figures and thus a leading indicator for countrywide inflation—were flat on an annual basis, down from May’s 0.1% rise.