Retail

Japan's core CPI rises again to 2.8% YoY in Feb

24 Mar '24

1 min read

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Japan's core CPI, which excludes fresh food, rose by 2.8 per cent YoY in February, government data showed.
This is the first rise in four months in a row as the impact of government energy subsidies introduced in February last year started fading.
Core-core CPI, which excludes energy and fresh food, rose by 3.2 per cent, slowing for the sixth straight month.

Japan’s core consumer price index (CPI), which excludes fresh food, increased by 2.8 per cent year on year (YoY) in February this year, government statistics showed.

This is the first rise in four consecutive months as the impact of government energy subsidies introduced in February last year started fading.

The index was above the central bank’s 2-per cent target for the 23rd straight month.

Core-core CPI, which excludes both energy and fresh food, rose by 3.2 per cent, slowing for the sixth straight month, the ministry of internal affairs and communications said.

Energy prices fell by 1.7 per cent in February following a 12.1-per cent drop in January, according to media reports from the country.

Financial conditions will stay ‘accommodative’ for the time being, central bank chief Kazuo Ueda said.

Fibre2Fashion News Desk (DS)

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