Japan: Drop in core prices remains stable in September
October 28, 2016
In September, the core consumer price index was flat compared to the previous month, which matched the result in August. The print mainly reflected that higher prices for clothes and footwear were offset by lower prices for culture and recreation as well as for transportation and communication.
Core prices were down 0.5% from the same month last year in September, which was in line with market analysts’ expectations and matched the results in both July and August. Overall consumer prices fell 0.5% in September, matching August’s decline.
Core prices for Tokyo—available one month in advance of the national figures and thus a leading indicator for countrywide inflation—fell 0.4% in October from the same month last year (September: -0.5% year-on-year).