Overall consumer prices in Japan advanced 0.4 percent on year in July, the Ministry of Internal Affairs and Communications said on Friday – in line with expectations and unchanged from the June reading.
Core inflation, which excludes food prices, advanced an annual 0.5 percent – again unchanged and matching forecasts.
Individually, prices for fuel climbed 4.3 percent on year, while food prices gained 0.6 percent.
On a monthly basis, overall CPI and core CPI were both flat. Clothing prices fell 2.8 percent on month, and furniture prices dipped 0.4 percent.
Overall consumer prices for the Tokyo region – considered a leading indicator for the nationwide trend – climbed 0.5 percent on year in August. That exceeded expectations for 0.3 percent and was up from 0.1 percent in July.
Core CPI for Tokyo gained 0.4 percent, beating forecasts for 0.3 percent and up from 0.2 percent in the previous month.
Individually, fuel prices spiked 5.7 percent on year and medical care jumped 1.7 percent.
On a monthly basis, overall and core CPI for Tokyo both added 0.2 percent. Recreation costs climbed 2.3 percent on month and medical care gained 1.8 percent.
Also on Friday, the Bank of Japan said that producer prices were up 0.6 percent on year in July. That was beneath expectations for 0.8 percent and down from the downwardly revised 0.7 percent gain in June (originally 0.8 percent).
Individually, prices were up for leasing rental and employment, while they were down for advertising.
On a monthly basis, producer prices gained 0.3 percent after falling 0.2 percent a month earlier.
by RTT Staff Writer
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