JAPAN DATA: Japan’s national core consumer prices (excluding
perishables) fell 0.3% in February y/y vs. -0.2% in January, posting the
24th straight y/y drop. Prices were depressed by declines in high school
tuition due to subsidies (this effect will fade after March) as well as
markdowns in consumer electronics (refrigerators, etc.), which together
more than offset higher heating oil and gasoline prices.