— Japan June Core CPI +0.4% Y/Y, 3rd Rise In Row; May +0.6%
— Japan June Core CPI MNI Survey Median Forecast: +0.5%
— Central Tokyo July Core CPI +0.4% Y/Y, 4th Rise; June +0.1%
— Tokyo July Core CPI MNI Survey Median Forecast: +0.2%
— Japan June CPI Energy Costs +5.2% Y/Y Vs May +5.7%
TOKYO (MNI) – Japan’s national core consumer prices posted a third
straight rise in June, as deflationary pressure eased on higher energy
and food costs, data released Friday by the Ministry of Internal Affairs
and Communications showed.
The nationwide core CPI, which excludes fresh food but includes
energy, rose 0.4% in June from a year earlier, following rises of 0.6%
in both April and May, which were the first y/y gains since December
2008.
The June headline figure came in slightly lower than the median
forecast of +0.5% by economists polled by Market News International.
The nationwide CPI also marked the longest stretch of positive
reading since it rose for a 15th straight months between October 2007
and December 2008.
The recent government survey of consumers showed that the
percentage of people forecasting higher prices in a year’s time
accounted for 71.1% of the total on an unadjusted basis in June, up from
70.8% in May. It hit 73.2% in April, the highest since November 2008.
Total national CPI, including food, rose 0.2% y/y in June following
gains of 0.3% both in May and April.
Overall energy costs in June rose 5.2% y/y, after rising 5.7% in
May.
National CPI excluding food and energy, or the U.S. style core CPI,
rose 0.1% in June from a year earlier following a 0.1% rise in May,
which was the first y/y rise in 29 months.
Meanwhile, central Tokyo core CPI rose 0.4% year-on-year in July,
rising for the fourth consecutive month.
CPI figures date to 1970 under the current 2005 base year.
tokyo@marketnews.com
** Market News International Tokyo Newsroom: 81-3-5403-4835 **
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