Japan: Core inflation rises in February
March 30, 2012
In February, the core consumer price index, which excludes volatile fresh food prices, grew 0.2% in seasonally adjusted terms over the previous month, which was above January's 0.1%. Accordingly, annual core inflation rose to 0.1%, contrasting the minus 0.1% reading expected by the market, which would have been unchanged from January. Meanwhile, annual overall inflation stepped up to 0.3% in February, which was above the 0.1% recorded in January. Moreover, core consumer prices in Tokyo, which are available one month before the national figures and thus a leading indicator for countrywide inflation, fell 0.3% in March over the same month last year, which mirrored both the previous month's reading and market expectations.